Facebook with Latestnigeriannews  Twieet with latestnigeriannews  RSS Page Feed
Home  |  All Headlines  |  Punch  |  Thisday  |  Daily Sun  |  Vanguard   |  Guardian  |  The Nation  |  Daily Times  |  Daily Trust  |  Daily Independent
World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  More Channels...

Viewing Mode:

Archive:

  1.     Tool Tips    
  2.    Collapsible   
  3.    Collapsed     
Click to view all Entertainment headlines today

Click to view all Sports headlines today

4 major cannabis companies reported disappointing earnings this week. Here's how each one did.

Published by Business Insider on Sat, 16 Nov 2019


Canopy Growth, Aurora Cannabis, Cronos Group, and Tilray all reported quarterly earnings this week.All reports fell short of analyst expectations and sent shares falling amid a difficult year for the cannabis industry.Here's how each company did, and how much the stock was affected.Read more on Business Insider.It was a rough week for cannabis companies. Four of the biggest businesses in the gameCanopy Growth, Aurora Cannabis, Cronos Group, and Tilrayreported earnings that fell short of analyst expectations.That led to stock declines across the board for the marijuana producers, ranging from a 2% slide for Tilray shares Wednesday to a 17.5% slide for Canopy Growth Friday.Now, shares of each company are a far cry from highs seen over the last year. In that time, the cannabis industry has dealt with a number of hurdles that have sent stock prices tumbling."The headwinds around delayed retail development and corresponding bottlenecks at the wholesale level are likely to weigh heavily on results," wrote W. Andrew Carter, an analyst at Stifel, in an earnings primer November 3.Injuries related to vaping have been a drag for the industry. And, regulatory issues have led at least one company to destroy millions of dollars of weed inventory.Going forward, cannabis companies will need to spend heavily to grow, an "underappreciated aspect of the nascent, highly regulated, and quickly evolving category," according to Carter.This is apparent for companies looking to capture the legal market in Canada, as well as those looking to capitalize on the CBD market in the US, Carter said. According to Stifel, the US CBD category could be worth $5 billion over the next few years.Here's what four of the top cannabis companies reported in their quarterly earnings this week, and what effect that had on their stock prices a day after each earnings release:1. Tilray Inc.Ticker: TLRYReported earnings: November 12, 2019Here's what the company reported (in Canadian dollars), versus what analysts surveyed by Bloomberg expected:Adjusted Ebitda loss: $23.5 million reported, versus $19.3 million (expected)Revenue: $51.1 million reported, versus $48.9 million (expected)Stock reaction post-earnings: -3%2. Cronos GroupTicker: CRONReported earnings: November 12, 2019Here's what the company reported (in Canadian dollars), versus what analysts surveyed by Bloomberg expected:Adjusted Ebitda loss: $23.9 million reported, versus $19.7 million (expected)Revenue: $12.7 million reported, versus $13.7 million (expected)Stock reaction post-earnings: -7.3%3. Aurora CannabisTicker: ACBReported earnings: November 14, 2019Here's what the company reported (in Canadian dollars), versus what analysts surveyed by Bloomberg expected:Adjusted Ebitda loss: $39.7 million reported, versus $20.8 million (expected)Revenue: $75.2 million reported, versus $90.6 million (expected)Stock reaction post-earnings: -17.3%4. Canopy Growth Corp.Ticker: CGCReported earnings: November 14, 2019Here's what the company reported (in Canadian dollars), versus what analysts surveyed by Bloomberg expected:Adjusted Ebitda loss: $155.7 million reported versus $96.1 million (expected)Revenue: $76.6 million reported versus $102.3 million (expected)Stock reaction post-earnings: -14.4%
Click here to read full news..

All Channels Nigerian Dailies: Punch  |  Vanguard   |  The Nation  |  Thisday  |  Daily Sun  |  Guardian  |  Daily Times  |  Daily Trust  |  Daily Independent  |   The Herald  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  New Telegraph  |  Peoples Daily  |  Blueprint  |  Nigerian Pilot  |  Sahara Reporters  |  Premium Times  |  The Cable  |  PM News  |  APO Africa Newsroom

Categories Today: World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Columns  |  All Headlines Today

Entertainment (Local): Linda Ikeji  |  Bella Naija  |  Tori  |  Pulse  |  The NET  |  DailyPost  |  Information Nigeria  |  Gistlover  |  Lailas Blog  |  Miss Petite  |  Olufamous  |  Stella Dimoko Korkus Blog  |  Ynaija  |  All Entertainment News Today

Entertainment (World): TMZ  |  Daily Mail  |  Huffington Post

Sports: Goal  |  African Football  |  Bleacher Report  |  FTBpro  |  Kickoff  |  All Sports Headlines Today

Business & Finance: Nairametrics  |  Business Insider  |  Forbes  |  Entrepreneur  |  The Economist  |  BusinessTech  |  Financial Watch  |  BusinessDay  |  All Business News Headlines Today

Technology (Local): Techpoint  |  TechMoran  |  TechCity  |  Innovation Village  |  IT News Africa  |  Technology Times  |  Technext  |  Techcabal  |  All Technology News Headlines Today

Technology (World): Techcrunch  |  Techmeme  |  Slashdot  |  Wired  |  Hackers News  |  Engadget  |  Pocket Lint  |  The Verge

International Networks:   |  CNN  |  BBC  |  Al Jazeera  |  Yahoo

Forum:   |  Nairaland  |  Naij

Other Links: Home   |  Nigerian Jobs