Greenlane Renewables Inc GRNWF

New Press Release - Greenlane Renewables Announces Second Quarter 2024 Financial Results

~Greenlane continues drive for EBITDA results; realigns cost structure; and secures new service contracts~ VANCOUVER, BC, Aug. 7, 2024 /CNW/ - Greenlane Renewables Inc. ("Greenlane" or the "Company") (TSX: GRN) (FSE: 52G) (OTC: GRNWF) today announced its financial results for the second quarter...read article.

[longkk]

Overall, it looks like Greenlane is facing a mix of challenges and opportunities:   Financial Performance: Mixed Results: The company has seen a decline in revenue and gross profit, although the gross margin has slightly improved and net loss has decreased. However, adjusted EBITDA loss has worsened, and the sales order backlog has dropped significantly, which could

[Canadian_101]

I agree with you that its a mixed bag at this point. Not a bad earnings report, not a great one either. Its good they see opportunities for service contracts and cash on hand has grown not decreased. Ian did say on the conference call that intererst rates are holding up projects from moving forward, it does appear that interest rates are coming down and most likely quickly in the US so that may

[rational]

You barely  touched on the key point imo: Brazil.  for all the recent hoopla about concentrating on Brazilian expansion, I found the press release lacking on detailed discussion of the region.  I also consider downsizing the workforce concerning. In addition to the obvious insinuation that management doesn't anticipate enough work for staff, it can also cause serious

[Tan4646]

The 50% decrease in backlog is really concerning as is the necessary decrease in headcount.  

[Speciallygood]

I'm feeling sick

[Canadian_101]

Yes I agree with you, I find it very interesting that Ian did not talk more about Brazil, he barely mentioned what was going on there, it seemed to be a major focus for the past CEO. They did say they had a minimun order amount for the the first two years and so far we have heard about 1 contract so I wonder what the  scoop is. Under the terms of the agreement, Greenlane and ZEG Biogs will