Trulieve Cannabis (CSE: TRUL) this morning reported its second quarter financial results, healthily beating analyst consensus estimates. The company reported quarterly revenues of $215.1 million, while generating net income of $40.9 million.
Revenues for the quarter were up from $193.8 million, an 11% improvement on a quarter over quarter basis. Gross profit meanwhile came in at $144.5 million, or 67%, a decline of three percentage points from the prior quarter.
Operating expenses meanwhile amounted to $61.5 million, enabling the company to post a net income of $40.9 million. Adjusted EBITDA meanwhile amounted to $94.9 million, a 4% increase from the first quarters $90.8 million recorded, and a beat for analyst consensus estimates.
Full financial results have yet to be released by the company.
The company also indicated this morning that its operations are now running in both Massachusetts and West Virginia, while the company also recently won a class 1 production license in the state of Georgia.
The company last night also saw Harvest Health (CSE: HARV) shareholders approve of the proposed merger between the two firms.
Trulieve Cannabis last traded at $40.04 on the CSE.
Information for this briefing was found via Sedar and Trulieve Cannabis Corp. 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.