Green Thumb Industries Posts Q4 2020 Revenues Of $177.2 Million, Net Income of $23.9 Million
Green Thumb Industries (CSE: GTII) this evening reported its fourth quarter and full year financial results, beating the latest consensus estimates. The company reported fourth quarter revenues of $177.2 million, along with a net income of $23.9 million. For the full fiscal year, Green Thumb reported revenues of $556.6 million, along with a net income of $19.1 million.
Revenues for the quarter beat the consensus estimate of $167.2 million. In terms of EBITDA, the company also posted a beat with an adjusted EBITDA of $65.4 million for the quarter, as compared to consensus estimates of $57.4 million. On a quarterly basis, revenues were up 12.8% from the $157.1 million in revenues posted in the third quarter
Cost of goods sold meanwhile amounted to $76.7 million, resulting in a quarterly gross profit of $100.5 million. The company also posted selling, general, and administrative expenses of $53.2 million for the quarter, as compared to $49.7 million in the prior quarter. Income from operations as a result amounted to $47.3 million, compared to $37.2 million in the third quarter.
Other income amounted to a net benefit of $3.4 million, with the company seeing other income of $7.9 million, which was partially offset by an interest expense of $4.4 million. All told, the company reported $23.9 in net income for the quarter.
Looking at the full fiscal year, revenues amounted to $556.6 million, a beat on consensus estimates of $549.8 million. Adjusted EBITDA meanwhile came in at $179.6 million, compared to consensus estimates of $172.2 million. On a year over year basis, revenues climbed by 157.2% from $216.4 million in revenues recognized in fiscal 2019.
Gross profit for the year amounted to $304.2 million, offset by SG&A expenses of $198.1 million, resulting in an income from operations of $106.1 million for the year. Total other income meanwhile had a net negative impact of $3.2 million, a result of other income amount to $15.4 million, which was offset by interest expenses of $18.7 million. Net income for the year totaled out at $19.1 million.
Looking to the balance sheet, cash was up slightly from the third quarter, coming in at $83.8 million as compared to $78.1 million previously. Full financials have yet to be filed, however “other” current assets were indicated as being $100.2 million, resulting in total current assets of $183.9 million. This compares to $159.1 million in total current assets at the end of the third quarter.
Less color was provided on total current liabilities, which were only indicated to be $119.3 million, as compared to $105.9 million in the previous quarter.
Green Thumb Industries last traded at $44.13 on the CSE.
Information for this briefing was found via Sedar and Refinitiv. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
