Cresco Labs Q1 Revenue Declines 9.4% YoY, What About Adjusted EBITDA?
Portfolio Pulse from Vuk Zdinjak
Cresco Labs reported Q1 2023 revenue of $194 million, a 9.4% decrease YoY, with adjusted EBITDA of $29 million, down from $51 million in Q1 2022. The company is working on acquiring Columbia Care, but there is no update on the timing for execution of agreements relating to outstanding divestiture transactions.
May 24, 2023 | 12:05 pm
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NEUTRAL IMPACT
Cresco Labs is working on acquiring Columbia Care, but there is no update on the timing for execution of agreements relating to outstanding divestiture transactions.
The ongoing acquisition of Columbia Care by Cresco Labs may have a neutral impact on Columbia Care's stock price in the short term, as there is no update on the timing for execution of agreements relating to outstanding divestiture transactions.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Cresco Labs' Q1 2023 revenue declined 9.4% YoY, and adjusted EBITDA dropped significantly. The company is working on acquiring Columbia Care.
Cresco Labs' Q1 2023 revenue decline and lower adjusted EBITDA indicate a weaker financial performance, which may negatively impact the stock price in the short term. Additionally, the ongoing acquisition of Columbia Care adds uncertainty to the company's future prospects.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100