E TerrAscend Q2 Financials: Results Very Negative, Forward Guidance Withdrawn, Stock Sinks

Forward Guidance

Last quarter the company raised its full-year guidance to $300 million versus the previous guidance of $290 million and Adjusted EBITDA was expected to exceed $128 million versus previous guidance of $122 million but the company has withdrawn said guidance due to temporary yield declines of quality flower in Pennsylvania related to ongoing construction and expansion. 

Stock Performance

While the TerrAscend stock price went UP 12.5% during Q2 it has gone DOWN a further 38.4% YTD since then (i.e., the end of June) and is now DOWN 29.9% YTD as illustrated in the chart below:

 

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