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BLACKROCK Municipal Income TRUST V.BFK.P


Primary Symbol: BFK

BlackRock Municipal Income Trust (the Fund) is a diversified closed-end management investment company. The Fund's investment objective is to provide current income exempt from federal income taxes. Under normal market conditions, the Fund invests at least 80% of its managed assets in investments the income from which is exempt from federal income tax (except that the interest may be subject to the alternative minimum tax). The Fund may invest directly in securities or synthetically through the use of derivatives. The Fund's investment policies provide that it invests at least 80% of its total assets in investment grade quality municipal obligations issued by or on behalf of states, territories and possessions of the United States and their political subdivisions, agencies or instrumentalities, each of which pays interest that, in the opinion of bond counsel to the issuer, is excludable from gross income for federal income tax purposes. Its investment adviser is BlackRock Advisors, LLC.


NYSE:BFK - Post by User

BLACKROCK Municipal Income TRUST > Relax people
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Comment by Whiskeytimeon Mar 18, 2021 3:24pm
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Post# 32828231

RE:RE:RE:RE:RE:RE:RE:RE:RE:Relax people

RE:RE:RE:RE:RE:RE:RE:RE:RE:Relax people

Key Financial & Operating Highlights

  • Achieved positive adjusted EBITDA, along with the seventh consecutive quarter of adjusted EBITDA improvement.
  • Total net revenue increased to $32.8M, up 94% from the prior year quarter (“2Q20”) and 12% from the first quarter of fiscal 2021 ended October 31, 2021 (“1Q21”).
  • Non-beverage Canadian adult-use revenue increased by 72% from 2Q20
  • Adult-use net revenue increased by 10.5% in 2Q21, marking the fifth consecutive quarter of growth.
  • Maintained number one position for market share in Quebec while increasing adult-use net revenues in the rest of Canada to 49% of the Company’s sales composition, up from 44% in 1Q21.
  • Gross revenues for the UP Cannabis brand increased to $3.2M, representing 8% of total adult-use, non-beverage gross revenue in 2Q21 vs under 1% in 1Q21 due to the successful relaunch of the UP brand in late 1Q21.
  • Brand mix, including the UP Cannabis brand, boosted non-beverage adult-use gross margin to 37%, up from 36% in 1Q21.
  • Maintained the number one position in the beverage category with net revenue increasing 11% over 1Q21.
  • Operational cash use of ($2.9M) for the quarter, and ($8.1M) over the past three quarters combined, not including non-cash working capital items.
  • Due to HEXO’s ongoing success, the Company has never qualified for the Government of Canada’s COVID-19 related emergency response programs, such as the Canada Emergency Wage Subsidy (CEWS).  Conversely, several of the Company’s competitors have received tens of millions of dollars, all of which has been included in their operational cash flows
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