Cannabis Industry Sales Trends: Is Momentum Building or Slowing? A State-By-State Analysis For 3Q23
Portfolio Pulse from Nicolás Jose Rodriguez
A report by Z&A research firm reveals mixed growth in the cannabis industry across 17 states in 3Q23. Seven states saw a decline in sales, while ten posted growth. Maryland's sales doubled due to the initiation of recreational sales. Florida and Massachusetts saw mid-single-digit growth, while Illinois, New Mexico, and Washington reported low single-digit growth. However, sales declined in Missouri, Ohio, Oregon, California, Colorado, and Nevada. The report also highlights the impact of revenue per store on operator margins and the effect of the number of stores on operators.
October 23, 2023 | 2:26 am
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NEGATIVE IMPACT
AYR saw a 3% decline in flower volumes in Florida.
The report indicates a decline in AYR's flower volumes in Florida, which could negatively impact the company's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Trulieve faced challenges with a 9% drop in flower volume in Florida and a market decline in Arizona.
The report indicates a decline in Trulieve's flower volume in Florida and a market decline in Arizona, which could negatively impact the company's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Cansortium saw a 10% increase in flower volumes in Florida.
The report indicates an increase in Cansortium's flower volumes in Florida, which could positively impact the company's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Cresco could benefit from its exposure to Illinois and Pennsylvania, which are critical states for the company.
The report suggests that Cresco, due to its exposure to Illinois and Pennsylvania, could benefit from the growth in these states, which could positively impact the company's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Curaleaf has a diversified presence and may see growth in New Jersey and Maryland.
The report suggests that Curaleaf, due to its diversified presence, may see growth in New Jersey and Maryland, which could positively impact the company's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
iAnthus has exposure to Maryland and could benefit from the significant increase in total sales in the state.
The report indicates that iAnthus, due to its exposure to Maryland, could benefit from the significant increase in total sales in the state, which could positively impact the company's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Verano could benefit from its exposure to Maryland and Illinois, which are critical states for the company.
The report suggests that Verano, due to its exposure to Maryland and Illinois, could benefit from the growth in these states, which could positively impact the company's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90