Earnings Analysis For Green Thumb, Trulieve, and Verano
We’ve got an extra podcast in this week, and this episode of TDR’s Trade To Black takes an in-depth exploration of earning’s season. We’ve got the latest earnings reports analysis from Green Thumb, Trulieve, and Verano. We’ll take a hard look at these numbers and what they mean. Don’t forget to check in with the video on YouTube to catch some of the conversation that happened during the livestream.
Up first: Trulieve just reported their Q4 and full year 2023 results. Among some of the highlights are a revenue of $287m increased 4% sequentially, 95% of revenue coming from retail sales. Their GAAP gross margin was 54% and they achieved a gross profit of $154m. There was also a reported net loss of $23m. Trulieve also relocated one dispensary and opened four new ones in the state of Florida. Hear the team’s thoughts on these numbers and Trulieve’s performance, and most especially, CEO Kim River’s achievements.
Turning to Verano, Verano has also just released their Q4 and full year 2023 results. Highlights from 2023 include a revenue of $938m which represents an increase of 7% YOY. They saw a gross profit of $475m (51% of revenue), but clearly profitability remains a challenge. There was also a reported net loss of $113m. First glance, the numbers appear to mostly come in line. There are some things to like but a few things to question, particularly in New Jersey and Illinois.
The last company we look at today is GTII, or Green Thumb Industries. GTII’s Q4 and 2023 year end report show a yearly revenue of $1.1bn, an increase of 4%, a 42% increase in cash flow from operations to the tune of $225m, and an adjusted EBITDA of $326m.
Join us as we make a comprehensive analysis of these earnings reports from Trulieve, Verano, and Green Thumb. We’ll take you behind the numbers to understand the driving forces shaping the financial landscapes of these leading cannabis companies. We’ll dissect their revenue streams, profit margins, and strategic moves in the rapidly evolving cannabis market.
