Green Thumb Industries Revenue Increases 11% In Q1 2024: We're 'Off To A Great Start,' Says Pres
Portfolio Pulse from Maureen Meehan
Green Thumb Industries (OTCQX:GTBIF) reported an 11% increase in Q1 2024 revenue to $276 million, with a GAAP net income of $31 million, marking a 240% year-over-year increase. Adjusted EBITDA rose to $91 million, and cash flow from operations increased by 12% to $84 million. The growth is attributed to expanded retail operations and consumer packaged goods sales, including 15 additional RISE Dispensaries and new adult-use sales in Maryland. The company also repurchased 1,067,000 shares for $13.6 million.
May 08, 2024 | 9:22 pm
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Green Thumb Industries (OTCQX:GTBIF) reported significant growth in Q1 2024, with an 11% increase in revenue and a 240% increase in GAAP net income. The company's strategic expansion in retail and consumer packaged goods, along with share repurchase, indicates strong operational performance and shareholder value enhancement.
The reported financial growth and strategic initiatives such as retail expansion and share repurchase demonstrate Green Thumb Industries' strong market position and operational efficiency. These factors are likely to positively influence investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100