The Investment Thesis
With quarterly sales of $178.4 million, Cresco managed to beat both FactSet consensus and Cantor Fitzgerald’s sales estimates of $170.4 million and $173.5 million, respectively, Zuanic explained in a Thursday analyst note.
While wholesale figures are slowly growing, the company’s retail sales were up 15% sequentially, with same-store sales up by 9% from the previous quarter, Zuanic added.
“Ex merger and acquisitions, we expect wholesale to grow in single digits sequentially in 2Q and 3Q and to ramp up in 4Q as new cultivation comes on stream.”
Cresco should add more retail locations in Pennsylvania and Massachusetts and start incorporating Bluma’s earnings in the second quarter and Cultivate’s by the last quarter of 2021, Zuanic said, adding that Cantor is not changing their quarterly projections.
(ACB), (AUSAF) - Cannabis Movers & Shakers: CanaQuest, Terra Tech, BioSteel, Halo Collective, Rolling Stone Culture Council, Australis
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Tilray Inc (NASDAQ:TLRY), (SNDL) - Cannabis Analyst: March Earning Season May Not Push Canadian LPs, But There Are Other Catalysts
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Next Green Wave Announces 12 Consecutive Months of Profitability
Next Green Wave Holdings Inc. (
CSE: NGW) (
OTCQX: NXGWF) ( Next Green Wave , NGW or the Company ) is pleased to announce the following operational and financial updates:
For each individual month between March 2020 to February 2021, the Company operated with positive cash flow, and achieved both positive Adjusted EBITDA and positive Net Income (the Milestones ). As a result, It has now achieved these Milestones for 12 consecutive months.
On February 16, 2021, the Company submitted the full application (the Application ) to the City of Coalinga (the City ), for all required local cannabis licenses on its 50,000 square foot premium indoor facility ( Facility B ). The Company is working with the City to get the Application approved at the next planning commission meeting, scheduled to be held on March 23, 2021, and subsequently the City, which has scheduled a council meeting on April 1, 2021.