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Cannabist Company Holdings (CBSTF)
OTHER OTC:CBSTF
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Earnings Data
Report Date
Mar 18, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.03Last Year’s EPS
-0.18Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Aug 06, 2019
|% Change Since: -64.29%
|Next Earnings Date:May 14, 2019
Earnings Call Sentiment|Neutral
The earnings call reflects a company in the midst of a significant transformation, with strategic divestitures aimed at addressing liquidity and debt challenges. While there is positive momentum in wholesale growth and market transitions, revenue and cash flow challenges remain. The sentiment is cautious as the company navigates through these structural changes.Company Guidance
In the third quarter of 2024, The Cannabist Company provided comprehensive guidance focusing on strategic divestitures and operational improvements to enhance profitability and sustainability. The company completed significant asset sales in Arizona and Virginia, generating $105 million to address liquidity needs and future debt obligations. Additionally, efforts to exit Florida and streamline operations in DC and Massachusetts were highlighted. Despite the temporary impact on bottom-line results due to these divestitures, the company achieved $115 million in revenue with a 38.2% gross margin. Wholesale revenue increased by 2% sequentially, reaching $19.5 million. The company set a target of a 20% adjusted EBITDA margin by 2025, reflecting a clear strategy to focus on high-potential markets like Ohio, which saw revenues nearly double with the transition to adult use. The company plans to continue rationalizing its geographic footprint, enhancing wholesale operations, and leveraging capital to deleverage the balance sheet while opening new retail locations in New Jersey, Maryland, Virginia, and Ohio.Transformation Progress and Strategic Divestitures
The company made significant progress in its transformation plan, having completed the sale of assets and operations in Arizona and Eastern Virginia for $105 million. This strategic move helped solve near-term liquidity needs and set the stage for tackling future debt obligations.
Wholesale Revenue Growth
Sequential increase in wholesale revenue by 2% to $19.5 million, despite impactful divestitures in Virginia and Arizona.
Ohio Market Transition to Adult Use
The transition of the Ohio market to adult use resulted in volumes on average nearly doubling and a new customer rate nearly nine times greater than prior to the transition.
Cost-Cutting and Operational Improvements
Further operational improvements and additional cost-cutting initiatives implemented in Q4 to drive efficiencies, including a $10 million annualized cost savings from corporate restructuring actions.
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CBSTF Earnings History
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
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CBSTF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $0.14 | $0.14 | 0.00% |
| Aug 08, 2024 | $0.23 | $0.25 | +8.70% |
| May 09, 2024 | $0.31 | $0.29 | -6.45% |
| Mar 13, 2024 | $0.25 | $0.23 | -8.00% |
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.
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FAQ
When does Cannabist Company Holdings (CBSTF) report earnings?
Cannabist Company Holdings (CBSTF) is schdueled to report earning on Mar 18, 2025, TBA Not Confirmed.
What is Cannabist Company Holdings (CBSTF) earnings time?
Cannabist Company Holdings (CBSTF) earnings time is at Mar 18, 2025, TBA Not 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?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CBSTF EPS forecast?
CBSTF EPS forecast for the fiscal quarter 2024 (Q4) is -0.03.
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