RE:I guess bad news is good news Duster340 wrote: any guess as to where acb stock price goes tomorrow after they come out with there financials. pot stocks moving higher on canopy growths terrible #'s, revenue was down 8% sales were down 20% stock currently up 12%. so if acb reports similar #'s will they be up another 12% or is it priiced in. it is a head scratcher LOL
As I often said, too many competitors.
Part of CGC quarter result. I don't even include the loss, the following is depressing enough. They need revenues to expand and they are simply not there. Watch out for the reality. The game is played both side. They want the retails to cover.
Net revenue of $141 million in Q3 FY2022 was a decline of 8% versus Q3 FY2021. Total global cannabis net revenue of $83 million in Q3 FY2022, represented a decline of 20% over Q3 FY2021. Other consumer products revenue of $58 million in Q3 FY2022, represented an increase of 19% over Q3 FY2021. Excluding the impact from acquired businesses, net revenue declined 17% and global cannabis net revenue declined 34% versus Q3 FY2021.
Gross margin:
Reported gross margin in Q3 FY2022 was 7% as compared to 16% in Q3 FY2021. Excluding non-cash restructuring costs recorded in cost of goods sold and inventory step-up charges from acquisitions, adjusted gross margin was approximately 13%. Gross margin in Q3 FY2022 was further impacted by lower production output and price compression in the Canadian recreational business as well as higher third-party shipping, distribution and warehousing costs across North America. Gross margin in Q3 FY2022 benefited from payroll subsidies in the amount of $7 million received from the Canadian government, pursuant to a COVID-19 relief program.