Trent Woloveck Gives Jushi Earnings Breakdown

Today on the Trade To Black podcast, we’re interviewing Trent Woloveck, the Chief Strategy Director at Jushi. It’s been a busy week as many companies have been releasing their latest earnings report. Likewise, Jushi released their Q4 earnings report. Trent Woloveck dives into the report with us and shares a little bit about their growth strategies and plans for 2024.

Jushi Holdings is a national multi-state cannabis company with high end retail locations, premium brands, and state of the art cultivation, processing and manufacturing facilities. Just this week they released their Q4 and Year End report 2023.

Shadd Dales and Anthony Varrell unpack some of the highlights from this report. Their total year revenue for 2023 was $269.4m and gross profit was $116.2m. Their adjusted EBITDA was $40.8m  which converts into an adjusted margin of 51.1%. Q4 revenue had a decrease of 11.8% year over year to $67.8m, but they achieved a 24% increase in gross profit and improved net loss to $18m from almost $140m in Q4 2022.

What should investors take away from the report? Trent Woloveck says Jushi is doing what they have been planning to, making sure to grow the EBITDA and improve profitability of the company. They’ve executed on that. Q4 is their best one yet, and he’s proud of the way they executed and brought to bear their investment of the last two years.

We’re thrilled to have Trent Woloveck on the podcast for the very first time. Get to know him and Jushi through their growth strategy, particularly their focus on expanding with new products like Sѐchѐ Kind Grind and Fine Grind. These products have significantly boosted Jushi branded sales, accounting for approximately 53% of our total retail revenue across the vertical footprint in Q4 2023. Wholesale revenue also finished strong.

Tune in to hear the full interview and get to know this MSO!

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