Cannabis Chart Of The Week: Q2 EBITDAs Beat Estimates, But Full-Year Projections Tell A Different Story
Portfolio Pulse from Viridian Capital Advisors
Q2 2023 earnings releases for cannabis companies have shown that many beat their EBITDA estimates, but full-year projections tell a different story. Analysts had lowered EBITDA estimates, making it easier for companies to beat the consensus. However, six of the fourteen largest MSOs, including the five largest, have lower expected 2023 EBITDA than actual 2022 EBITDA. The group, in aggregate, is projected to be down 3.2% for 2023. Aggressive inventory management is likely to restrain the 2nd half EBITDA snapback. TerrAscend (OTC:TRSSF) and AYR’s (OTC:AYRWF) are mentioned as potential exceptions.
August 21, 2023 | 7:10 pm
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AYR’s growing market share in Florida may explain its higher 2023 EBITDA.
The article mentions that AYR’s growing market share in Florida may explain its higher 2023 EBITDA. However, it's not clear how significant this impact will be.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
TerrAscend may be an exception to the trend of lower 2023 EBITDA projections due to potential benefits from Maryland.
The article mentions that TerrAscend may be an exception to the trend of lower 2023 EBITDA projections due to potential benefits from Maryland. However, it's not clear how significant this impact will be.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70