Weed Giant Trulieve Beats Q4 Revenue Estimates, Reports Higher Net Loss For Full Year
Portfolio Pulse from Nina Zdinjak
Trulieve Cannabis Corp. (OTCQX:TCNNF) reported Q4 revenue of $287 million, surpassing estimates and showing an increase from the previous quarter. Adjusted EPS was $0.12, beating estimates. However, the company reported a higher net loss for the full year, with a net loss of $527 million compared to $246 million in 2022. CEO Kim Rivers highlighted the company's focus on cash generation and investments for future growth. Trulieve ended 2023 with $208 million in cash and operates 193 retail dispensaries in the US.
February 29, 2024 | 1:10 pm
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Trulieve reported higher Q4 revenue and adjusted EPS than expected but faced a significant increase in annual net loss. The company remains focused on growth and cash generation.
The positive Q4 revenue and EPS beat may provide short-term positive sentiment, but the significant increase in annual net loss could raise concerns about long-term profitability. The company's focus on growth and cash generation, along with its operational expansion, suggests a balanced outlook.
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IMPORTANCE 90
RELEVANCE 100