'Best Q2 in Our History' Glass House Brands Reports Record Results, Gross Margin Above 50%
Portfolio Pulse from Nicolás Jose Rodriguez
Glass House Brands Inc. (OTCQX:GLASF) (OTC:GHBWF) reported record Q2 2023 results, with gross margin exceeding 50%. The company's net sales surged by 171% to $44.7 million, and gross profit rose to $24.4 million. Operational efficiency improved with a 12% reduction in cost per Equivalent Dry Pound of Production. The company's cash balance at the end of the quarter was $22.7 million, a 39% growth from Q1 2023.
August 15, 2023 | 3:12 am
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POSITIVE IMPACT
Glass House Brands reported record Q2 2023 results, which could positively impact its stock price.
The company's record results, including a surge in net sales and gross profit, as well as improved operational efficiency, could make it more attractive to investors, potentially driving up its stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Glass House Brands reported record Q2 2023 results, which could positively impact its stock price.
The company's record results, including a surge in net sales and gross profit, as well as improved operational efficiency, could make it more attractive to investors, potentially driving up its stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100