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30.05.2019 23:24:39

Cannabis producer Green Thumb Industries tops revenue estimates

U.S. marijuana producer Green Thumb Industries Inc. reported Thursday revenue that slightly topped the consensus estimates and met expectations for per-share losses. The company reported first-quarter net losses attributable to Green Thumb of $9.7 million, or 6 cents a share, compared with losses of $1.6 million, in the year-ago period. The company did not provide a per-share figure. Revenue rose to $27.9 million from $10.9 million in the year-ago period. Green Thumb reports revenue net of discounts. Analysts surveyed by FactSet had estimated revenue of $27.4 million. Three analysts polled by FactSet modeled first-quarter losses of 6 cents a share. For the second quarter, analysts model losses of 2 cents a share on sales net of discounts of $41.2 million. Green Thumb stock has fallen 6% in the past year, with the S&P 500 index rising 2.17%. Green Thumb stock closed down 0.2% during regular trading Thursday.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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