Nova Cannabis Second Quarter 2024 Earnings: EPS: CA$0.01 (vs CA$0.018 in 2Q 2023)

Nova Cannabis (TSE:NOVC) Second Quarter 2024 Results

Key Financial Results

• Revenue: CA$69.2m (up 8.1% from 2Q 2023).
• Net income: CA$859.0k (down 17% from 2Q 2023).
• Profit margin: 1.2% (down from 1.6% in 2Q 2023).
• EPS: CA$0.01 (down from CA$0.018 in 2Q 2023).

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

Nova Cannabis Earnings Insights

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 8.1% growth forecast for the Specialty Retail industry in Canada.

Performance of the Canadian Specialty Retail industry.

The company's shares are up 2.4% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 3 warning signs for Nova Cannabis that you should be aware of.

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.

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