Analysts May Need To Revise Cannabis Stock Projections For 2024: 10 Companies Surpass EBITDA Estimates By $37M
Portfolio Pulse from Nicolás Jose Rodriguez
Cannabis analysts may revise 2024 projections as 10 MSOs beat EBITDA estimates by $37M in Q1. Despite this, full-year estimates only increased by $14M, showing a lag in analyst response. Revenue performance varied, with some companies missing estimates. Despite EBITDA beats, 2024 estimates were cut for six companies. TerrAscend, Ascend, and Green Thumb had significant beats, while MariMed had the largest miss. Margin projections for the year have been adjusted down slightly.
May 14, 2024 | 1:16 pm
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POSITIVE IMPACT
Ascend also surpassed EBITDA estimates by over 5%, reflecting strong financial health.
A significant beat in EBITDA estimates for Ascend indicates a strong financial position, likely leading to a positive short-term impact on its stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Goodness Growth exceeded EBITDA estimates by more than 25%, showcasing strong financial performance.
Goodness Growth's significant beat on EBITDA estimates suggests strong financial performance, likely leading to a positive short-term impact on its stock.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Green Thumb's EBITDA results were more than 5% above estimates, suggesting operational efficiency.
Exceeding EBITDA estimates significantly, as Green Thumb did, points to operational efficiency and is likely to have a positive effect on its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Jushi beat EBITDA estimates by more than 25%, indicating exceptional performance.
A beat in EBITDA estimates by more than 25% for Jushi suggests exceptional performance, which could lead to a significant positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Trulieve beat EBITDA estimates by more than 25%, reflecting exceptional operational success.
Trulieve's substantial beat on EBITDA estimates indicates exceptional operational success, which is likely to positively affect its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
TerrAscend's results were over 5% better than estimates, indicating strong operational performance.
Beating EBITDA estimates by a significant margin suggests TerrAscend is performing well operationally, which could positively influence its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
MariMed missed EBITDA estimates by 10%, indicating potential challenges in meeting financial targets.
A significant miss in EBITDA estimates like MariMed's suggests operational or market challenges that could negatively impact its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80