Categories AlphaGraphs, Cannabis, Earnings
Everything you need to know about Aurora Cannabis’ (ACB) Q4 earnings
Aurora Cannabis, Inc. (NASDAQ: ACB) has reported a wider net loss for the fourth quarter of 2022, mainly due to the impact of non-cash impairment charges. The company’s revenues dropped 8% year-over-year during the quarter.
The Canada-based medical marijuana company reported a net loss of C$618.8 million for the fourth quarter, compared to a loss of C$134.0 million last year. Adjusted EBITDA loss was C$12.85 million, compared to a loss of C$21.82 million in the prior-year quarter. Total revenues decreased 8% annually to C$50.22 million.
“We continue to enhance the long-term value of our differentiated global cannabis business by quickly identifying highly profitable growth opportunities, deploying capital in a disciplined manner, and continuing to rationalize our cost structure. We remain the #1 Canadian LP in global medical cannabis revenues and expect this high margin, high growth segment to be a key driver for future profitability,” said Miguel Martin, chief executive officer of Aurora Cannabis.
Read management/analysts’ comments on Aurora’s Q4 results
Shares of Aurora Cannabis traded lower Friday afternoon on the Nasdaq stock market, extending the post-earnings losses. The stock has been languishing in the single-digit territory for quite some time.
Prior Performance
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
CVX Earnings: Chevron reports lower revenue and profit for Q1 2024
Energy exploration company Chevron Corporation (NYSE: CVX) announced first-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation was $5.50 billion or
ABBV Earnings: AbbVie reports lower adj. profit for Q1 2024; revenue edges up
Specialty biopharmaceutical company AbbVie, Inc. (NYSE: ABBV) Friday announced first-quarter 2024 financial results, reporting a decline in adjusted earnings and a modest rise in revenues. The company reported worldwide net
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q1 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported first quarter 2024 earnings results today. Net sales increased 6.2% year-over-year to $5.06 billion. Organic sales increased 9.8%. Net income attributable to Colgate-Palmolive Company was