Trulieve Cannabis Q4 Net Loss Increased By 32%

Trulieve logo (PRNewsfoto/Trulieve Cannabis Corp.)

Trulieve logo (PRNewsfoto/Trulieve Cannabis Corp.)


Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), a constituent in the munKNEE American Cannabis MSO Stocks Index, announced its results for the fourth quarter ended December 31, 2023, last week, as follows:


Q4 2023 Financial Highlights

(The information below compares Q4 2023 with Q3 2023 and all figures are in U.S. dollars.)

  • Revenue: UP 4% to $287M
  • Gross Profit: UP 8% to $154M
    • Gross Profit Margin: UP to 54% from 52%
  • SG&A Expenses: UP 2% to $96M
  • Net Income (Loss): Increased 32% to $(33)M
    • Adj. Net Income (Loss): Increased 55% to $(23)M
  • Adj. EBITDA: UP 13% to $88M
    • Adj. EBITDA Margin: UP to 31% from 28%
  • Cash on Hand: UP 7.3% to $208M


Q4 Operational Highlights

  • opened 4 retail outlets for a total of 193 nationwide of which 68% are in Florida
  • have over 4 million square feet of cultivation and processing capacity


Management Commentary

Kim Rivers, Trulieve CEO, said: 

  • "...Fourth quarter momentum was underpinned by improved consumer trends. We entered 2024 in a position of significant strength just as the outlook for industry growth and reform brightened. With strong cash generation and a clearly defined strategy, Trulieve is best positioned for the coming wave of meaningful growth catalysts."


Stock Performance

Trulieve's stock price was DOWN 14.3% in Q4 but was UP 85% in the ensuing 2 months and remains constant since then.


More By This Author:

Cronos Q4 Financials Are Disappointing: Net Loss Soars By 2725%!
Recap: These 7 Artificial Intelligence (AI) Stock Categories Had Returns From +2 To +15% In February
AI-Enabled Personal Computer Stocks Up 5% In February; Now Up 6% YTD

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. ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.