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Nov. 18, 2019, 5:28 p.m. EST

Trulieve Cannabis revenue rises 150%

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By Max A. Cherney

Trulieve Cannabis Corp. /zigman2/quotes/207658767/delayed TCNNF +0.07% /zigman2/quotes/210560499/delayed CA:TRUL +0.97% reported higher-than-expected third-quarter revenue late Monday. The weed producer reported net income of $60.3 million, which amounts to 55 cents a share versus net income of $17.5 million, or 18 cents a share in the year-ago period. Trulieve's net income includes a $89.1 million gain from the growth of biological assets, and a $22.9 million adjustment from inventory sold. Revenue rose to $70.7 million from $28.3 million in the year-ago period. The four analysts polled by FactSet had predicted third-quarter revenue of $65.6 million and model fourth-quarter revenue of $73.1 million. Trulieve stock has gained 40% this year as the S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.95% rose 25%.

/zigman2/quotes/207658767/delayed
US : U.S.: OTC
$ 13.31
+0.0100 +0.07%
Volume: 41,693
Dec. 6, 2019 10:39a
P/E Ratio
10.25
Dividend Yield
N/A
Market Cap
$1.47 billion
Rev. per Employee
N/A
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/zigman2/quotes/210560499/delayed
CA : Canadian Securities Exchange
$ 17.70
+0.17 +0.97%
Volume: 51,617
Dec. 6, 2019 10:39a
P/E Ratio
10.25
Dividend Yield
N/A
Market Cap
$1.93 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
3,147.17
+29.74 +0.95%
Volume: 413.14M
Dec. 6, 2019 10:55a
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