Aphria Inc. (NYSE: APHA) is scheduled to report second quarter 2020 earnings results on Tuesday, January 14, before the market opens. Analysts expect the company to report a loss of $0.02 per share on revenue of $100.8 million.
In the first quarter of 2020, the company surprised the Street with earnings of CAD 0.07 per share while the forecasts were for a loss of CAD 0.01. However, revenues of CAD 126.1 million came below the estimates of CAD 138.4 million.
Last quarter, Aphria said it was on track on achieve an annual production capacity of 255,000 kilograms when all facilities are licensed and operational. In November, the company doubled its production capacity after receiving cultivation license for its Aphria Diamond facility.
The addition of 140,000 kg of production from Aphria Diamond helped the company reach its target of annualized production capacity of 255,000 kg. This is a huge positive.
Aphria also started rolling out cannabis vape products which come with its share of concerns. Vaping is facing several controversies and is currently under close scrutiny. Updates on this area will be worth watching.
In general, the outlook for cannabis stocks appears to be bullish for this year on the expectations of strong demand and easing of regulations.
For the full year of 2020, the company has guided for net revenue of approx. $650 million to $700 million and adjusted EBITDA of approx. $88 million to $95 million.
The stock has dropped 27% in the past one year and 5% over the past week. It has a majority rating of Buy and an average price target of $8.61.
Video game company Electronic Arts, Inc. (NASDAQ: EA) reported lower earnings and revenues for the fourth quarter of 2021. Earnings also missed analysts' forecast. During the March quarter, net bookings
Shares of Tyson Foods Inc. (NYSE: TSN) were in green territory during afternoon hours on Tuesday. The stock has gained 32% over the past 12 months and 23% since the
Space tourism company Virgin Galactic Holdings, Inc. (NYSE: SPCE) ended the first quarter of 2021 without generating revenue and continued the losing streak even as uncertainty over its test flight