Cresco Labs Third Quarter 2024 Earnings: Misses Expectations

Cresco Labs (CSE:CL) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$179.8m (down 3.8% from 3Q 2023).
• Net loss: US$10.5m (loss narrowed by 91% from 3Q 2023).
• US$0.03 loss per share (improved from US$0.34 loss in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Cresco Labs Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) also missed analyst estimates.

Looking ahead, revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Pharmaceuticals industry in Canada.

Performance of the Canadian Pharmaceuticals industry.

The company's shares are down 19% from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Cresco Labs, and understanding them should be part of your investment process.

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