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March 24, 2020, 4:24 p.m. EDT

Marijuana-retailer Curaleaf revenue tops estimates

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By Max A. Cherney

Cannabis retailer Curaleaf Holdings Inc. /zigman2/quotes/205334348/composite CURLF +1.56% /zigman2/quotes/203485866/delayed CA:CURA +1.42% reported revenue Tuesday that topped the analyst consensus and wider-than-expected losses. The company reported a net loss of $26.6 million, which amounts to 6 cents a share, versus a loss of $11.2 million, or 3 cents a share in the year-ago quarter. Curaleaf revenue rose to $75.5 million versus $32 million a year ago. At the end of December, Curaleaf said it had $42.3 million in cash. Analysts surveyed by FactSet had expected a loss of 2 cents a share on sales of $74.7 million. For the first quarter, analysts expect sales of $110 million; there are not enough estimates to form a reliable consensus for earnings, according to FactSet. Curaleaf stock has dropped 60% in the past year, and rose 25% to $3.85 in Tuesday trading. The S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.81% has fallen 20% in the past year as the ETFMG Alternative Harvest ETF /zigman2/quotes/204332491/composite MJ -1.19% , which tracks a basket of stocks including cannabis companies, fell 72%.

/zigman2/quotes/205334348/composite
US : U.S.: OTC
$ 17.01
+0.26 +1.56%
Volume: 1.30M
March 2, 2021 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$11.44 billion
Rev. per Employee
N/A
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/zigman2/quotes/203485866/delayed
CA : Canadian Securities Exchange
$ 21.50
+0.30 +1.42%
Volume: 838,650
March 2, 2021 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$14.48 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
3,870.29
-31.53 -0.81%
Volume: 2.28B
March 2, 2021 5:08p
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/zigman2/quotes/204332491/composite
US : U.S.: NYSE Arca
$ 23.19
-0.28 -1.19%
Volume: 2.42M
March 2, 2021 4:00p
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