Categories AlphaGraphs, Cannabis, Earnings

Infographic: Highlights of Canopy Growth’s (CGC) Q2 2023 earnings

Cannabis producer Canopy Growth Corporation (NASDAQ: CGC) reported a wider net loss for the second quarter of 2023, hurt by a 10% fall in revenues.

Canopy Growth Q2 2023 earnings infographic

In the three months that ended September 2022, the net loss widened to C$221.8 million or C$0.47 per share from C$11.06 million or C$0.03 per share in the same period of the previous year. The bottom line was negatively impacted by non-cash fair value changes and an increase in asset impairment and restructuring costs, which were partially offset by improved margins.

Second-quarter revenues decreased 10% annually to C$117.9 million, mainly reflecting weakness in the recreational cannabis segments and lower sales in the international market.

Check this space to read management/analysts’ comments on quarterly results

“Our second quarter marks a key inflection point for Canopy, demonstrating momentum across our key businesses and accelerating our entry into the U.S. cannabis market through the creation of Canopy USA. Canopy is ideally positioned to capitalize on this once-ina-generation opportunity and accelerate our path to North American cannabis market leadership,” said David Klein, chief executive officer of Canopy Growth.

Prior Performance

  • Canopy-Growth-Q1-2023-Earnings-Infographic
  • Canopy Growth Corporation Q4 2022 Earnings Infographic
  • Canopy Growth Q2 2022 earnings results

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

Key takeaways from General Mills’ Q3 2023 earnings report

Shares of General Mills Inc. (NYSE: GIS) were up nearly 3% on Thursday after the company delivered better-than-expected results for the third quarter of 2023 and raised its full-year guidance

FIVE Stock: Five Below is likely to continue the good show this year

For Five Below Inc. (NASDAQ: FIVE), the holiday season was more rewarding than expected as the high inflation and stressed personal finances made customers seek value. Earlier, the discount store

Earnings: Chewy (CHWY) swings to profit in Q4 on higher revenues

Chewy Inc. (NYSE: CHWY) has reported higher sales for the fourth quarter of 2022. Reflecting the strong top-line growth, the pet food company turned to profit from a loss last

Add Comment
Viewing Highlight