Trulieve Cannabis Corp Up 3.88% To $5.09 After Earnings Beat

Trulieve Cannabis Corp (TCNNF) surpassed earnings projections on 11/9/2023 for Q3 2023.

Trulieve Cannabis Corp's earnings came in at an EPS loss of $0.08 per share, 53.00% higher than estimates for an EPS loss of $0.17 per share. The firm's earnings are down 500% since reporting $0.02 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Consensus analyst estimates were at $269.5 million. The Healthcare company managed to surpass those expectations for its third quarter with revenue of $275.2 million, a positive revenue surprise of $5.7 million (2%). The firm managed negative 9% growth year-over-year due to Trulieve Cannabis Corp reporting quarterly revenue of $300.8 million in its year-ago quarter. Trulieve Cannabis Corp achieved a lower earnings growth rate than revenue, signaling that the business has not been able to improve its profit margin.

The stock is up 3.88% to $5.09 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Trading in the five days leading up to the report earned Trulieve Cannabis Corp a Bullish Sentiment Rank from InvestorsObserver.

Trulieve Cannabis Corp has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 75, putting Trulieve Cannabis Corp in the top 25% of stocks. The firm was recently trading at a 52-week low of $3.42 on August 28, 2023 and set a 52-week high on December 5, 2022 at $16.11.

Trulieve Cannabis Corp is a vertically integrated seed to sale and fully licensed medical marijuana company. It is mainly engaged in the cultivation, possession, use, sale, and distribution of medical cannabis.