Trulieve Cannabis Q3 Financials Show Major Improvement In Net Loss

Trulieve logo (PRNewsfoto/Trulieve Cannabis Corp.)
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: ), a constituent in the American Cannabis MSO Stocks Index, announced its results for the third quarter ended September 30, 2023, today, as follows:

Q3 2023 Financial Highlights
(The information below compares Q3 2023 with Q2 2023 and all figures are in U.S. dollars.)

Revenue: DOWN 2.5% to $275M

Gross Profit: UP 0.7% to $143M

Gross Profit Margin: UP to 52% from 50%

SG&A Expenses: DOWN 2.1% to $94M

Net Income (Loss): DOWN 86.1% to $(25)M

Adj. Net Income (Loss): Unchanged @ $(15)M

Adj. EBITDA: DOWN 1.3% to $78M

Adj. EBITDA Margin: Unchanged @ 28%

Cash on Hand: UP 7.3% to $200M

Q3 Operational Highlights

opened 5 retail outlets for a total of 191 nationwide of which 68% are in Florida

have over 4 million square feet of cultivation and processing capacity

Management Commentary
Kim Rivers, Trulieve CEO, said: ”

“…With significant scale and service, strong cash generation, and a clearly defined strategy, Trulieve is…[well] positioned for the coming wave of meaningful growth catalysts.””

Stock Performance
Trulieve’s stock price was UP 55.4% in Q3 but was DOWN 19.5% as of yesterday. Its stock had advanced 4.7% by mid-morning today and is currently DOWN 29.5% YTD. More By This Author:

Trulieve Cannabis Q3 Financials Show Major Improvement In Net Loss

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