Cronos Group Third Quarter 2024 Earnings: Beats Expectations

Cronos Group (TSE:CRON) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$34.3m (up 38% from 3Q 2023).
• Net income: US$8.35m (up from US$1.46m loss in 3Q 2023).
• Profit margin: 24% (up from net loss in 3Q 2023).
• EPS: US$0.02 (up from US$0.004 loss in 3Q 2023).

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

Cronos Group Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates.

Looking ahead, revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Pharmaceuticals industry in Canada.

Performance of the Canadian Pharmaceuticals industry.

The company's shares are up 2.1% from a week ago.

Risk Analysis

We should say that we've discovered 1 warning sign for Cronos Group that you should be aware of before investing here.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.