E Cannabis Central: Jushi Holdings Prelim Q3 Financial Results, Q4 Guidance

Jushi Holdings Inc. (JUSHF), a multi-state cannabis and hemp operator (MSO), today announced preliminary financial results for Q3, ending September 30, 2020, and provided updated guidance for Q4 ended December 31, 2020 and fiscal year 2021.

Based on a preliminary review, the Company currently anticipates:

  • Q3 expected revenue to be $24 million from the previously announced range of $22-25 million, representing 61% sequential growth;
  • Q4 expected total revenue to be at the high end of the previously announced range of $25-30 million;
  • Q4 adjusted EBITDA to be positive;
  • Total fiscal year 2021 revenue to be $205-255 million;
  • Total fiscal year 2021 adjusted EBITDA to be between $40-50 million;
  • Fiscal year 2021 operating cash flow to be positive.

Jushi also confirmed that as of August 31, 2020, the Company had $44 million of cash, as well as $7.5 million in marketable securities. (All above currency numbers are in U.S. dollars.)

Management Commentary

Jim Cacioppo, Chief Executive Officer, Chairman and Co-Founder of Jushi said: "We’ve positioned Jushi for sustained, long-term profitable revenue growth by investing our shareholders’ capital in high-growth markets with strong barriers to entry across the country. We’re thrilled with the great performance Jushi has achieved to date and encouraged by the immense opportunity ahead of us.”

Stock Performance

The 12 MSOs that trade consistently for US1$/share or more are up 7.9% YTD compared to Jushi, the #3 ranked MSO for stock appreciation, which is up 76.8% YTD. Below is a chart of its performance YTD:

(Click on image to enlarge)


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William K. 4 weeks ago Member's comment

Amazing indeed. Obviously those directing this group of holdings has done much better than others in selecting investments in the cannabis realm

I have not seen this much sunshine in quite a long time.