Intercure Ltd Down 5.04% To $2.45 After Earnings

Tuesday, May 16, 2023 - Intercure Ltd (INCR) reported upside earnings and revenues today.

Intercure Ltd reported EPS of $0.00. Profits fell 100% year-over-year after reporting an EPS of $0.36 in its year-ago quarter. The negative growth rate signals that the Healthcare company isn't performing well amid current economic conditions.

Intercure Ltd reported Q1 2023 revenue of $30.1 million. The $30.1 million (0%) negative revenue surprise led to negative 66% growth year-over-year as the firm reported revenue of $87.2 million in its year-ago quarter. The lower earnings growth compared to revenue points to Intercure Ltd not being able to improve its profit margin.

The stock is down 5.04% to $2.45 after the report.

Intercure Ltd's profit margins took a hit as earnings fell at a faster pace than revenues.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Intercure Ltd a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 40. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Intercure Ltd is engaged in the research, cultivation, production, and distribution of pharma-grade cannabis-based products. The products are distributed to hospitals, pharmacies, research, and government organizations.