Supreme Cannabis Company Inc. (The) T.FIRE

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[nearnorth101]

Canopy Growth's Stock Soars After Narrower-than-expected Loss, Revenue Beat -- MarketWatch

Friday, February 14, 2020, 6:48 AM ET

 

The U.S.-listed shares of Canopy Growth Corp. (WEED.T) rocketed 16% in premarket trading Friday, after the Canada-based cannabis company reported a narrower-than-expected fiscal third-quarter loss and revenue that rose above forecasts, amid strength in business-to-consumer sales. The company reported a net loss of C$124.2 million ($93.8 million), or 35 cents a share, after net income of C$74.9 million, or a loss of 38 cents on a per-share basis. That beat the FactSet consensus for a loss of 52 cents a share. Net revenue rose 49% to C$123.76 million ($93.46 million), above the FactSet consensus of C$105.0 million. Recreational business-to-business cannabis sales fell 11% to C$53.5 million. as a 42% increase in dry cannabis sales was offset by an 86% drop in oil and softgels. Recreational business-to-consumer cannabis sales increased 32% to C$15.2 million, as dry cannabis sales grew 24% and oil and softgels jumped 183%. Canadian medical cannabis sales fell 7% to C$14.8 million and international medical sales rose nearly 7-fold (up 593%) to C$18.7 million. Gross margin was 34% while free cash flow was negative C$359.6 million. The stock has run up 23% over the past three months through Thursday while the ETFMG Alternative Harvest ETF (MJ) has lost 7.9% and the S&P 500 has gained 9.0%.
-Tomi Kilgore
For more from MarketWatch: https://www.marketwatch.com/newsviewer
(END) Dow Jones Newswires
February 14, 2020 06:48 ET (11:48 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.

 

 

[maritimedreamer]

even canopy and their bunk weed did better......

[johnale]

Gross Recreational B2B revenue increased 8% over prior quarter due, in part, to over 140 stores becoming active in the quarter and higher sales of premium dried flower and pre-roll joints.   premium sales? Lol that's fires category - still can't believe we didn't nail this q. I wonder if it was a combination of distribution to stores and price. Or one or the other.  but

[George141]

..I agree, there are positives in this report. Nav made a mistake to predict 150 to 180 mill. Clearly inexperience. As it stands this really is a new beginning. We can only go up from here...we could also be bought out or at least there could be offers behind closed doors. Trimming the work force was a responsible thing to do and once things get rolling they could be partially be hired back. If

[OptGreen]

They met guidance for FQ2/20 joh, the only thing they have done is removed the hard numbers of $120-180mil for FY2020 sales....with the packaging still up and running this quarter they just need to get the product packaged and on the shelf. There has been no FIREmenu available here in Sask for the last month? With sales of ~$10mil for the quarter it is clear there are many shelves across the

[nearnorth101]

Opt , with all the inventory they have, what is the issue with getting it on the shelves is it the buyers from the online/retial stores creating the problem? I've been following the choocolate edibles and they have stock for a short period then show out of stock, then later in the day show stocked and then out of stock, I can't imagine the LP's are just sending a few packages at a time

[OptGreen]

The only thing that I can see is the transition to in-house packaging nn, of which guidance targeted to start ramping up about now, through FQ4/20 with the herb starting now and the vapes, edibles, oils etc were to be picking up more into FQ4/20...this appears to be much the same in this report, this from yesterday's NR; Focuses business on accelerated, near-term revenue growth with

[DubbyTGF]

Exactly which guidance did they meet, Opt? How can you simultaneously say that they met guidance, then say that we will, "MAYBE," see a reduction in guidance for the year of only ~33% (100mil FY2020)?

[brentkosta]

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[OptGreen]

There was no significant gain for FQ2/20 in guidance from the jump Dub, guidance called for ramp up for lattter part of FQ3/20 through FQ4/20, based on packaging up and running and PAX vapes for FQ3/20 and now the vapes are for late this quarter and packaging up and running this quarter as well. As per on yesterday's report everything is pretty well on track but not right up to the level

[leopold99]

All BS whole sector will say anything to make a buck! Guidance was real BS. Fire has great product but is that enough to survive?