Trulieve Cannabis (OTC) ( (TCNNF) ) has released its Q3 earnings. Here is a breakdown of the information Trulieve Cannabis (OTC) presented to its investors.
Trulieve Cannabis Corp. is a vertically integrated cannabis company operating in the U.S., notable for its market-leading positions in states like Florida, Arizona, and Pennsylvania, and its comprehensive approach within the cannabis sector.
In its third-quarter report for 2024, Trulieve Cannabis achieved a revenue of $284 million, marking a 3% increase from the same period last year. This performance aligns with the company’s guidance, showcasing a strong gross margin of 61%. Notably, a significant portion of the revenue, 95%, was generated from retail sales.
Key financial metrics indicate a gross profit of $173 million and an adjusted EBITDA of $96 million, which represents 34% of the revenue and a notable 24% increase from the previous year. Despite these strong figures, the company reported a net loss of $60 million attributable to common shareholders, which when adjusted for certain expenses, stands at $12 million. Additionally, the company supported the Florida adult-use campaign with $48 million, impacting its cash flow figures.
Looking ahead, Trulieve is poised to capitalize on potential market expansion in Florida, should cannabis legalization for personal use be approved. With an extensive retail presence and significant production capacity, the company is well-positioned to advance its growth strategy and leverage future opportunities in the recreational cannabis sector.
