cbdMD Reduces Operating Loss, Reports Positive Net Income For Q3 And 15% YoY Drop In Net Sales
Portfolio Pulse from Jelena Martinovic
cbdMD, Inc. (NYSE:YCBD) reported its Q3 2024 financial results, showing a significant reduction in operating losses and a positive net income. Despite a 15% YoY drop in net sales, the company improved its gross profit margin and reduced SG&A expenses. The stock traded 0.70% lower at $0.4816 per share on Thursday morning.
August 15, 2024 | 6:51 pm
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cbdMD reported a significant reduction in operating losses and a positive net income for Q3 2024. Despite a 15% YoY drop in net sales, the company improved its gross profit margin and reduced SG&A expenses. The stock traded 0.70% lower at $0.4816 per share.
The significant reduction in operating losses and positive net income are strong indicators of improved financial health. Despite the YoY drop in net sales, the improved gross profit margin and reduced SG&A expenses suggest better cost management. The slight drop in stock price may be a short-term reaction, but the overall financial improvements are likely to have a positive impact in the near term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100