Village Farms International (NASDAQ: VFF) is slated to report third quarter 2019 earnings results on Thursday, November 14, at 8:00 pm ET. Analysts estimate the company will report earnings of $0.16 per share on revenue of $48.6 million.
Village Farms historically reports higher sales in the second and third quarters due to its peak vegetable production during summer. Production updates from the company’s joint ventures, Pure Sunfarms and Village Fields Hemp, are also worth watching.
Last month, the company saw a decrease in the wholesale market price for cannabis in the markets where Pure Sunfarms sells its production resulting in lower margins compared to the second quarter. Pure Sunfarms also began shipping cannabis products to provincial wholesalers in Ontario and British Columbia, which together comprise over half of Canada’s population.
In the second quarter of 2019, Village Farms reported consolidated sales of $53.4 million and earnings of $0.20 per share. Produce sales totaled $41.3 million.
Last quarter, the company commenced the conversion of its second 1.1 million square foot greenhouse operation, Delta 2, for cannabis production, which is expected to double Pure Sunfarms’ annual output at full production to over 150,000 kilograms, which is expected by the fourth quarter of 2020.
Village Farms also expanded its US outdoor hemp cultivation and CBD extraction program to Colorado through a new JV, Arkansas Valley Green and Gold Hemp, LLC for the outdoor cultivation of high-cannabidiol (CBD) hemp and CBD extraction.
Shares of Village Farms have gained 5% in the past one month. The stock was down 9% in afternoon hours on Wednesday.
Most Popular
What to look for when CVS Health (CVS) reports Q3 earnings
Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain
eBay (EBAY): A few factors that helped drive growth in Q3 2024
Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to