Cannabis Grower's Rough Year: Q3 Earnings Show 28% Revenue Plunge But Sheds Millions In Debt
Portfolio Pulse from Patricio Liddle
Lowell Farms Inc (OTCQX:LOWLF), a cannabis company, reported a 28% decrease in Q3 revenue to $6.2 million and a net loss of $20.2 million, compared to a $4.8 million loss in Q3 2022. Despite the revenue drop and increased net loss, the company has reduced its debt and is optimistic about its restructuring strategy. Shares of LOWLF were down 11.01% to $0.24 per share.
November 14, 2023 | 9:08 pm
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Lowell Farms Inc reported a significant decrease in Q3 revenue and a larger net loss year-over-year. However, the company has successfully reduced debt and is optimistic about its future due to its restructuring strategy.
The reported decrease in revenue and increased net loss are negative indicators that are likely to impact investor sentiment negatively in the short term. The optimism expressed by management may not be enough to counteract the immediate negative reaction reflected in the 11.01% share price drop.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100