GrowGeneration: Wrong-way cannabis earnings play of the day
GrowGeneration killed it on today's earnings report, but dropped about 5%. This presents a buying opportunity.
The company reported GAAP earnings of $.03 per share, beating analyst estimates of 0.02/share. It reported revenue of $21.8 million, vs. the forecast of $20.621 million. These are big year-over-year increases. This time last year, the company reported a loss of ($.02) per share. Revenue is up $13.4 million, or 159% over last year's quarterly report of $8.400 million. The company raised its full-year revenue forecast to about 75M. Same-store sales and profit margins both saw large increases.
Coming after analyst downgrades for Aurora Cannabis and CanopyGrowth, GrowGeneration's results make it a standout small-cap player in the ever-popular cannabis sector. Overall, this company is executing like a boss.
The company reported GAAP earnings of $.03 per share, beating analyst estimates of 0.02/share. It reported revenue of $21.8 million, vs. the forecast of $20.621 million. These are big year-over-year increases. This time last year, the company reported a loss of ($.02) per share. Revenue is up $13.4 million, or 159% over last year's quarterly report of $8.400 million. The company raised its full-year revenue forecast to about 75M. Same-store sales and profit margins both saw large increases.
Coming after analyst downgrades for Aurora Cannabis and CanopyGrowth, GrowGeneration's results make it a standout small-cap player in the ever-popular cannabis sector. Overall, this company is executing like a boss.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.