Categories AlphaGraphs, Consumer, Earnings
Infographic: Everything you need to know about Aurora Cannabis’ (ACB) Q3 earnings
Aurora Cannabis, Inc. (NYSE: ACB) on Thursday reported a narrower loss for the third quarter of 2022. The company’s revenues dropped 9% year-over-year during the quarter.
The Canada-based medical marijuana company reported an adjusted EBITDA loss of C$12.3 million for the third quarter, compared to a loss of C$20.9 million in the prior-year quarter. Total revenues decreased 9% annually to C$50.4 million. Medical marijuana sales increased 8%, while consumer marijuana sales declined 43%.
“We continue to steer our differentiated global cannabis business towards long-term shareholder value creation. This is being accomplished through a sole focus on the most profitable growth opportunities, rationalization of our Canadian cost structure, and disciplined use of capital. Our plan is working and we remain firmly on track to achieving a positive Adjusted EBITDA run rate by the first half of fiscal 2023., ” said Miguel Martin, chief executive officer of Aurora Cannabis.
Read management/analysts’ comments on Aurora’s Q3 results
Shares of Aurora Cannabis traded slightly higher early Friday on the Nasdaq stock market, after closing the previous session higher. It has lost about 58% since the beginning of the year.
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
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q2 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported its second quarter 2024 earnings results today. Net sales increased 4.9% year-over-year to $5 billion. Organic sales increased 9%. Net income attributable to Colgate-Palmolive Company was $731
Key takeaways from Visa’s Q3 2024 earnings report
Credit card behemoth Visa, Inc. (NYSE: V) this week reported mixed results for the June quarter, with earnings matching expectations and sales slightly missing the view. Both numbers grew in
Southwest Airlines (LUV): A look at the airline’s performance in Q2 2024
Shares of Southwest Airlines Co. (NYSE: LUV) were up over 6% on Thursday after the company beat earnings estimates for the second quarter of 2024. The stock has gained 4%