Curaleaf reports Q2 adjusted EPS (6c) vs. (6c) last year

Reports Q2 revenue $315.0M, consensus $313.92M. CEO Boris Jordan stated, “Q2 revenue was $315M, up 1.5% compared to Q1, consistent with our guidance. Adjusted gross margin of 49% increased 120 basis points compared to the prior year period. We generated $66M in adjusted EBITDA resulting in a 21% AEBITDA margin. Our international segment delivered another solid quarter of 62% year-over-year growth. We ended Q2 with $102M in cash, after making $47M in interest and debt payments. Over the past decade, we’ve scaled Curaleaf (CURLF) into a global cannabis leader, now operating in 17 U.S. states plus 15 countries worldwide. Today, I’m proud to announce another key milestone: we have been awarded a license to operate in Turkey, a country of 87 million people, further expanding our international footprint. We also strengthened our leadership team with four senior executive appointments that deepen our commercial expertise and position us for our next phase of growth. With our infrastructure built and asset base set, we’re now sharpening our focus on product quality, customer service, and supply chain excellence-positioning Curaleaf to thrive in a volatile environment and capitalize on emerging opportunities. Global consumer demand for cannabis is strong and accelerating, and with the right team, strategy, and foundation in place, we are uniquely positioned to lead the next wave of industry growth.”