All Cresco Labs' QI Financial Metrics Down Except SG&A
Cresco Labs Inc. (CRLBF), a constituent in the munKNEE American Cannabis MSO Stocks Index, has released its financial results for the first quarter (Q1) ended March 31, 2024, today, as follows:
Q1 Financial Highlights
(The information below compares Q1 2024 with Q4 2023 and all figures are in U.S. dollars.)
- Net Revenue: DOWN 2.1% to $184.3M
- Adj. Gross Profit: DOWN 4.8% to $94.9M
- as a % of Net Revenue: DOWN to 51.5% from 53.0%
- Adj. Sales, Gen. & Admin: Reduced 5.1% to $51.7M
- as a % of Net Revenue: DOWN to 28.1% from 29.0%
- Adj. EBITDA: DOWN 2.9% to 53.2%
- as a % of Revenue: DOWN to 28.9% from 29.1%
- Net Profit (Loss): DOWN to $(2.1)M from $4.9M
- Cash on Hand: UP 15.1% to 124.9M
Cresco's reported Q1 profit/loss as a percentage of quarterly revenue compared with the other 6 constituents in the munKNEE American Cannabis MSO Stocks Index, was, in descending order, as follows:
- Green Thumb (GTBIF):
- Q1 profit as a % of Revenue: 11.3%
- Cresco Labs (CRLBF):
- Q1 loss as a % of Revenue: (1.1)%
- Verano (VRNOF):
- Q1 loss as a % of Revenue: (2.2)%
- Trulieve Cannabis (TCNNF):
- Q1 loss as a % of Revenue: (7.7)%
- Ayr Wellness (AYRWF):
- Q1 loss as a % of Revenue: (16.9)%
- Curaleaf (CURLF):
- Q1 loss as a % of Revenue: (142.5)%
- TerrAscend (TSNDF):
- Q1 loss as a % of Revenue: (184.9)%
Q1 Operating Highlights
- Retained the No. 1 share position in Illinois, Pennsylvania and Massachusetts
Stock Performance
Despite the poor Q1 financial report Cresco's stock price is UP 2.5% as of mid-day but is still DOWN 1.9% from last Friday albeit UP 52.6% YTD.
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Disclosure: None
This article has been composed with the exclusive application of the human intelligence (HI) of the author. No artificial intelligence (AI) technology has been deployed. ...
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