Charlie Bachtell Shares Cresco Q2 Earnings on MSOS Monday

Top Takeaways from Cresco Labs’ Earnings and Trade To Black’s MSOS Monday

• Curio Wellness and Ascend Wellness Holdings have entered a partnership where Ascend will manufacture and distribute Curio’s products in three states and Curio will manage production and distribution of Ascends’ ozone products in two.
• In their Q2 2024 earnings, Cresco Labs posted a revenue of $184 million, with an adjusted gross profit of $97 million and an adjusted gross margin of 52% of revenue.
• North Dakotans will join voters in both Florida and South Dakota in deciding on cannabis legalization measures this November.

Get ready for a new week in the markets with Trade To Black and hosts Shadd Dales and Anthony Varrell. In this August 12, 2024 episode of MSOS Monday, they talk about the latest cannabis headlines. Cresco Labs’ (OTC: CRLBF) CEO Charlie Bachtell joins us on our MSOS Monday show to talk about his company’s latest earning, and Dan Ahrens will be on later with the latest stock performance insights.

Ascend Wellness Holdings (AWH) and Curio Wellness entered into a mutually beneficial strategic partnership that is poised to significantly impact the cannabis industry. Under the terms of the agreement, the two companies will be manufacturing and distributing each other’s brands in key markets in the United States.

CEO Charlie Bachtell gives the lowdown on Cresco’s second quarter 2024 results from last week. The company posted a Q2 revenue of $184 million, an adjusted gross profit of $97 million which is up 4% year-over-year, and an adjusted gross margin of 52% of revenue. The adjusted SG&A was also reduced by 14% year-over-year to $53 million, or 29% of revenue. We’ll discuss the numbers in detail.

The big names in politics continue to have commentary on cannabis legalization and rescheduling. Catch the speculation on what this means for rescheduling and SAFE Banking. Perhaps one of these changes to legislation will pass sooner rather than later. Also, North Dakota voters will get to decide on Election Day whether to pass a ballot measure that legalizes use, cultivation at home, and retail sales of cannabis.

Be sure also to stay tuned for Dan Ahrens with our MSOS Monday update on stocks performances.