Trulieve Touts Third Consecutive Quarter Of Revenue Growth, Narrows Q2 Net Loss 97% YoY, Launches Cannabis Sales In Ohio
Portfolio Pulse from Jelena Martinovic
Trulieve Cannabis Corp. reported its third consecutive quarter of revenue growth, with Q2 2024 revenue reaching $303 million, driven by higher retail traffic and increased wholesale revenue. The company also launched recreational cannabis sales in Ohio, marking a significant milestone. Financial highlights include a gross profit of $182 million, a net loss of $12 million (a 97% YoY improvement), and positive adjusted EBITDA of $107 million. Trulieve operates 206 retail dispensaries and over four million square feet of cultivation and processing capacity nationwide.
August 06, 2024 | 1:11 pm
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Trulieve Cannabis Corp. reported strong Q2 2024 results with revenue growth, a significant reduction in net loss, and the launch of recreational cannabis sales in Ohio.
The company's strong financial performance, significant reduction in net loss, and expansion into the Ohio recreational market are likely to positively impact the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100