07:44 AM EST, 03/04/2026 (MT Newswires) -- George Weston (WN.TO) reported higher adjusted net earnings although net earnings fell year over year in the fourth quarter of 2025.

The holding company owns Loblaw Companies, Canada's largest food and drug retailer and a provider of financial services, and Choice Properties Real Estate Investment Trust, Canada's largest and preeminent diversified REIT.

George Weston booked adjusted net earnings of C$468 million, or $1.21 per diluted share, in the quarter ended Dec. 31, 2025, rising from $415 million, or $1.05 per share, a year ago.

Net earnings available to common shareholders dropped year over year to $280 million, or $0.72 per share, from $664 million, or $1.68 per share, due to unfavorable impact of the fair value adjustment of the Trust Unit liability due to a decrease in Choice Properties' unit price.

Revenue increased to $16.54 billion from $14.87 billion while adjusted EBITDA climbed to $1.89 billion from $1.71 billion.

"2025 marked another strong year for George Weston as Loblaw gained customers by offering exceptional value in a growing number of communities, and Choice Properties benefited from tenant demand for its grocery-anchored retail and well-located industrial assets," Chairman and Chief Executive Officer Galen Weston said.