Charlotte's Web Holdings Inc (CWBHF) said before open Thursday that it lost $0.1 per share in quarter three 2023.
On the revenue line, the company reported $14.3 million, missing estimates by $2.6 million.
In the same quarter a year ago, the company lost $0.05 per share on revenue of $17 million.
The stock is down 6.35% to $0.25 after the report.
Despite Charlotte's Web Holdings Inc reporting a decline in revenues, earnings increased signaling a rise in profit margins.
InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.
Prior to the report, InvestorsObserver gave the stock an overall score of 31.
Charlottes Web Holdings Inc is engaged in the production and distribution of hemp-based cannabidiol (CBD) wellness products. Its product categories include ingestible products (tinctures, capsules, and gummies), topicals, and pet products. The company distributes its products through an e-commerce website, third-party e-commerce websites, select distributors, health practitioners, and a variety of brick and mortar specialty retailers.
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Charlotte's Web Holdings Inc Down 6.35% To $0.25 After Earnings Miss
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