Aurora Cannabis, Inc. (NYSE: ACB) on Tuesday reported a loss for the first quarter of 2022 when its revenues declined 11% from last year.
The Canada-based medical marijuana company reported an EBITDA loss of C$12.1 million for the first quarter, on an adjusted basis, compared to a loss of $58.1 million in the prior-year quarter. Net revenues decreased 11% year-over-year to C$60.1 million during the three-month period.
“Our transformation plan is on track. We continue to strengthen and transform our business while benefitting from broad diversification across our international medical, domestic medical, and adult recreational segments. On a run-rate basis to date, we have executed over $33 million in annualized cost savings, ” said Miguel Martin, chief executive officer of Aurora Cannabis.
Read management/analysts’ comments on Aurora’s Q1 results
Shares of Aurora Cannabis dropped soon after the earnings release on Tuesday evening at the New York Stock Exchange, after closing the regular session higher. The stock has declined 27% since the beginning of 2021.
Most Popular
MCD Earnings: McDonald’s comp sales up 12.6% in Q4; profit increases
Fast-food chain McDonald’s Corporation (NYSE: MCD) on Tuesday reported an increase in adjusted earnings for the fourth quarter of 2022 when its revenues remained broadly unchanged. The company said fourth-quarter
GM Earnings: All you need to know about General Motors Q4 2022 earnings results
General Motors Co. (NYSE: GM) reported fourth quarter 2022 earnings results today. Revenue increased 28.4% year-over-year to $43.1 billion. Net income attributable to stockholders increased 14.8% to $2 billion while EPS rose 19.8%
CAT Earnings: Highlights of Caterpillar’s Q4 2022 results
Construction-equipment manufacturer Caterpillar Inc. (NYSE: CAT) reported double-digit growth in fourth-quarter revenues and adjusted earnings. Adjusted net profit increased to $3.86 per share in the December quarter from $2.69 per