Trulieve Cannabis Corp. reported “another blowout quarter,” in the words of one analyst, showing that it is possible for pot companies to beat earnings expectations.
After a week that saw Canada’s four largest cannabis producers miss estimates, hammering the sector, the strong results from Florida’s largest pot company indicate that the quarter may look brighter for U.S. operators.
Trulieve reported third-quarter revenue of US$70.7 million, ahead of the consensus estimate of US$65.6 million, and adjusted earnings before interest, taxes, depreciation and amortization of US$36.9 million. It also reaffirmed its 2019 and 2020 guidance, which calls for US$220 million to US$240 million of revenue this year and US$380 million to US$400 million next year, with Ebitda growing to US$140 million to US$160 million by 2020.
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