Bulletin
Investor Alert

Market Pulse Archives

Aug. 17, 2022, 7:16 a.m. EDT

Cresco Labs falls just shy of revenue target

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Cresco Labs Inc. (CRLBF)
  • X
    Cresco Labs Inc. (CL)
  • X
    AdvisorShares Pure US Cannabis ETF (MSOS)

or Cancel Already have a watchlist? Log In

By Steve Gelsi

Cresco Labs Inc. /zigman2/quotes/200392306/delayed CRLBF -9.30% /zigman2/quotes/205276242/delayed CA:CL -10.05% said Wednesday its second-quarter loss increased to $8.3 million from $2.65 million in the year-ago period. The company did not provide a loss per share figure. Second-quarter revenue increased by 4% to $218.2 million from $210 million. Wall Street analysts were expecting Cresco Labs to generate revenue of $218.3 million, according to a FactSet survey. Cresco Labs co-founder and CEO Charles Bachtell said the company reported "solid results in the face of an unprecedented macro environment." Cresco Labs is holding and growing market share, focusing on efficiencies across the business to maintain margins, and preparing for its acquisition of Columbia Care, he said. Shares of Cresco Labs are down 43.8% in 2022 compared to a loss of 52.5% by the AdvisorShares Pure US Cannabis ETF /zigman2/quotes/220307682/composite MSOS -6.18% and a loss of 16.3% by the Nasdaq /zigman2/quotes/210598365/realtime COMP -1.80% .

/zigman2/quotes/200392306/delayed
US : U.S.: OTC
$ 2.73
-0.28 -9.30%
Volume: 779,518
Sept. 23, 2022 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.10 billion
Rev. per Employee
$376,473
loading...
/zigman2/quotes/205276242/delayed
CA : Canadian Securities Exchange
$ 3.67
-0.41 -10.05%
Volume: 393,806
Sept. 23, 2022 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.49 billion
Rev. per Employee
$476,641
loading...
/zigman2/quotes/220307682/composite
US : U.S.: NYSE Arca
$ 9.42
-0.62 -6.18%
Volume: 1.81M
Sept. 23, 2022 4:00p
loading...
/zigman2/quotes/210598365/realtime
US : Nasdaq
10,867.93
-198.88 -1.80%
Volume: 5.19B
Sept. 23, 2022 5:16p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.