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Jan. 14, 2020, 7:52 a.m. EST

Aphria's stock turns lower after in-line loss, revenue miss

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By Tomi Kilgore

Shares of Aphria Inc. /zigman2/quotes/207425803/composite APHA -8.38% /zigman2/quotes/205566616/delayed CA:APHA -6.08% slumped 4.8% in premarket trading, reversing an earlier gain of as much as 7.3%, after the Canada-based cannabis company reported fiscal second-quarter losses that were in line with expectations and revenue that missed expectations, but provided an upbeat full-year sales outlook. For the quarter to Nov. 30, Aphria swung to a net loss of C$8.2 million ($6.3 million), or 3 cents a share, from a profit of C$54.8 million, or 22 cents a share, in the same period a year ago. The FactSet consensus was for a per-share loss of 3 cents. Net revenue rose more than 5-fold to C$120.6 million ($92.2 million) from C$21.7 million, but was below the FactSet consensus of C$129.8 million. Kilograms sold rose 18% to 7,062 while cash cost to produce dried cannabis fell 22% to C$1.11 per gram. For fiscal 2020, the company expects revenue of C$575 million to C$625 million, above the FactSet consensus of C$571 million. "We are continuing to expand our capabilities internationally with solid progress during the quarter in Germany and South America and look to monetize non-core assets," said Chief Executive Irwin Simon. "We are confident in our market position and our ability to generate sustainable profit growth." The stock has rallied 25% over the past three months through Monday, while the ETFMG Alternative Harvest ETF /zigman2/quotes/204332491/composite MJ -5.09% has lost 5.8% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -4.42% has gained 11%.

Read the full story:
Aphria stock slides 9% to weigh on broader cannabis sector

/zigman2/quotes/207425803/composite
US : U.S.: NYSE
$ 3.50
-0.32 -8.38%
Volume: 9.16M
Feb. 27, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$885.25 million
Rev. per Employee
$147,410
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/zigman2/quotes/205566616/delayed
CA : Canada: Toronto
$ 4.79
-0.31 -6.08%
Volume: 4.14M
Feb. 27, 2020 1:51p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.21 billion
Rev. per Employee
$190,843
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/zigman2/quotes/204332491/composite
US : U.S.: NYSE Arca
$ 14.18
-0.76 -5.09%
Volume: 1.40M
Feb. 27, 2020 8:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
2,978.76
-137.63 -4.42%
Volume: 3.94B
Feb. 27, 2020 5:20p
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