Jangan Lagi Percaya dengan Ungkapan 'Belum 5 Menit', Ini Fakta Mengerikan di Baliknya
Tilray Revenue Surges 85%, But Loses $18.7 Million By Shoshanna Delventhal | November 14, 2018 — 12:55 PM EST SHARE Shares of Canadian cannabis producer Tilray Inc. (TLRY) are down over 5.5% in early trading on Wednesday following the British Columbia-based company's most recent quarterly earnings report. Results from major marijuana companies come at a time when the industry is being faced with increased sector turbulence and a major sell-off following the legalization of cannabis in their domestic market. Medical Cannabis Demand, Sales to Other Canadian Producers, Drive Tilray Top Line Tilray posted revenue up 86% YOY to $10.05 million, just short of the consensus at $10.1, according to FactSet. An adjusted quarterly loss of $0.08 per share came in above the consensus for a loss of $0.12 per share. Total kilogram equivalents sold over doubled to reach 1,613 kilograms. Investors were disappointed with a lower average net selling price per gram, which dropped from $7.53 in the year-ago period to $6.21. The decline in marijuana prices was attributed to a spike in bulk sales to other licensed producers, which accounted for 50% of revenue, according to CFO Mark Castaneda. "The cannabis industry remains very robust and we are pleased with our revenue momentum and strategic achievements in the third quarter," said CEO Brendan Kennedy in a statement. The company attributed most of its revenue growth to medical cannabis demand, as opposed to the adult-use market, in which Tilray said it made no sales in Q3, as well as markets outside Canada and sales to other domestic producers. Cannabis Companies Fail to Hold Confidence for High-Flying Valuations in Q3 On Monday, shares of Vancouver-based Aurora Cannabis Inc. (ACB) plunged despite reporting that Q3 sales jumped 260%, earnings skyrocketed over 2,800% and cannabis volume increased roughly 400% to 11,000 pounds. Cronos Group (CRON) also reported on Tuesday, generating revenue up a solid 187% YOY to $3.8 million. Meanwhile, the Canadian producer lost $0.04 per share, down from $0.01 profit per share. Kilograms of cannabis sold jumped 213% over the same period last year to reach 514 kilograms. Management attributed the growth in revenue and kilograms sold to a spike in demand in the domestic medical and international markets, alongside initial shipments into the domestic adult-use recreational market. (See also: Who's Interested in Marijuana Stocks?) Results weren't enough to please investors, who were hoping to see higher cannabis prices and lower costs for cannabis companies following a period of heavy spending to get ramp up ahead of the Canadian Cannabis Act, which took effect on Oct. 17. For now, the pressure is on for cannabis producers to justify their lofty valuations. Bulls continue to view the global medical cannabis opportunity, as well as the opportunity to expand into the Canadian recreational market and other potential legal regions, as presenting long-term growth drivers. Canadian producer Canopy Growth (CGC) reports on Wednesday.
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