The earnings call highlighted stable revenue and significant growth in wholesale and branded product sales, alongside strong gross margins and cash flow. However, challenges include net losses, pricing compression, and anticipated seasonal revenue decline. Advocacy for federal cannabis reform and innovative product launches provide optimism for future growth.

Company Guidance

During the Trulieve Cannabis Corporation's second-quarter 2025 earnings call, the company provided guidance indicating a strong financial performance. Trulieve reported a second-quarter revenue of $302 million, showing a 1% sequential increase, with a gross margin of 61%, a 1% improvement from the previous year. The company achieved an adjusted EBITDA of $111 million, reflecting a 37% margin, which is a 2% increase year-over-year, driven by high gross margins and strict expense control. Operating cash flow was $86 million, contributing to a cash reserve of $401 million at the end of the quarter. The company anticipates third-quarter revenue to decrease by a mid-single-digit percentage sequentially due to historical seasonal patterns, with an expectation for the full-year gross margin to be comparable to 2024. Trulieve also expects full-year operating cash flow of at least $250 million and capital expenditures of up to $40 million. The company remains optimistic about federal cannabis reform and is focused on strategic objectives, including branded products, distribution, and customer engagement.

Stable Revenue and Growth in Key Markets

Second quarter revenue was $302 million, comparable to last year and up 1% sequentially. Market share growth was noted in Arizona and Florida, with higher Trulieve branded product sales in Pennsylvania.

Strong Gross Margin and Cash Flow

Gross margin improved to 61%, and operating cash flow was $86 million, contributing to $401 million in cash at quarter end.

Wholesale Revenue Growth

Wholesale revenue grew 27% compared to last year, with expanded relationships in Maryland and Pennsylvania.

Branded Product Success

Trulieve sold over 12.5 million branded product units in the second quarter, with Modern Flower and Roll One representing 50% of branded products sold.

Federal Cannabis Reform Advocacy

Trulieve is actively engaged in federal reform efforts, with optimism for rescheduling cannabis to Schedule III and strong bipartisan support for the SAFER Banking Act.

Innovative Product Launches

Launch of new THC beverage lines Onward and Upward, with cases sold up 300% compared to the pilot launch. New flavors are being introduced in the coming months.

Trulieve Cannabis (TCNNF) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TCNNF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 05, 2025	2025 (Q3)	-0.08 / -	-0.32	―	―	―
Aug 06, 2025	2025 (Q2)	-0.07 / -0.07	-0.06	-16.67% (-0.01)
May 07, 2025	2025 (Q1)	-0.07 / -0.17	-0.12	-41.67% (-0.05)
Feb 27, 2025	2024 (Q4)	-0.22 / -0.31	-0.18	-72.22% (-0.13)
Nov 05, 2024	2024 (Q3)	-0.11 / -0.32	-0.13	-146.15% (-0.19)
Aug 06, 2024	2024 (Q2)	-0.08 / -0.06	-2.14	97.20% (+2.08)
May 09, 2024	2024 (Q1)	-0.10 / -0.12	-0.34	64.71% (+0.22)
Feb 29, 2024	2023 (Q4)	-0.15 / -0.18	-0.41	56.10% (+0.23)
Nov 09, 2023	2023 (Q3)	-0.17 / -0.13	-0.61	78.69% (+0.48)
Aug 09, 2023	2023 (Q2)	-0.17 / -2.14	-0.12	-1683.33% (-2.02)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TCNNF Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 06, 2025	$5.55	$5.28	-4.86%
May 07, 2025	$4.47	$4.36	-2.46%
Feb 27, 2025	$4.13	$4.36	+5.57%
Nov 05, 2024	$12.70	$11.65	-8.27%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Trulieve Cannabis (TCNNF) report earnings?

Trulieve Cannabis (TCNNF) is schdueled to report earning on Nov 05, 2025, Before Open (Confirmed).

What is Trulieve Cannabis (TCNNF) earnings time?

Trulieve Cannabis (TCNNF) earnings time is at Nov 05, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

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What is TCNNF EPS forecast?

TCNNF EPS forecast for the fiscal quarter 2025 (Q3) is -0.08.

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