Cannabis Chart Of The Week: Analysts React Meekly To Strong Q1'24 Earnings
Portfolio Pulse from Viridian Capital Advisors
Cannabis companies reported strong Q1'24 earnings, with significant EBITDA beats, yet analysts have been conservative in revising full-year estimates upwards. Despite the aggregate EBITDA beat of $37M, full-year estimates increased by only $14M, with cuts for six out of ten companies. This cautious approach follows a year of downward revisions in 2023, indicating a trend of analysts playing catch-up in a positive direction.
May 13, 2024 | 3:43 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
MariMed missed Q1 EBITDA estimates by 10%, indicating potential short-term negative sentiment despite the overall sector's strong performance.
MariMed's significant miss in EBITDA estimates could lead to negative investor sentiment in the short term, especially when contrasted with the broader sector's success.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
TerrAscend exceeded Q1 EBITDA estimates by over 5%, potentially boosting investor confidence and stock price in the short term.
TerrAscend's significant beat on EBITDA estimates could positively influence investor sentiment and contribute to a short-term stock price increase.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80