Green Thumb Q2 Revenue Declines 0.8% YoY, What About Income?
Portfolio Pulse from Vuk Zdinjak
Green Thumb Industries Inc. reported Q2 2023 revenues of $252.4 million, a decrease of 0.8% YoY but an increase of 2% from Q1 2023. Gross profit was $125.3 million, down 0.4% YoY, and net income was $13.4 million, a decrease of 45.2% YoY. Adjusted EBITDA was $75.8 million, down from $78.7 million in Q2 2022. The company ended the quarter with $149 million in cash and $289.9 million in total debt.
August 09, 2023 | 12:00 pm
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NEGATIVE IMPACT
Green Thumb's Q2 2023 results showed a slight decrease in revenue and a significant decrease in net income YoY. However, the company's revenue increased compared to Q1 2023.
The decrease in revenue and significant decrease in net income YoY could negatively impact investor sentiment and potentially lead to a decrease in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100