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Verano Holdings (VRNOF)
OTHER OTC:VRNOF
Earnings Data
Report Date
May 07, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.04Last Year’s EPS
-0.01Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 27, 2025
|% Change Since: -28.89%
|Next Earnings Date:May 07, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook for Verano Holdings. While the company showcased strong wholesale performance, retail expansion, and successful new product launches, it also faced significant challenges such as a net loss due to asset impairments, revenue decline in key markets, and pricing pressures. Overall, the highlights and lowlights are balanced, reflecting a neutral sentiment.Company Guidance
During the Verano Holdings earnings call for the fourth quarter and full year 2024, several key metrics were highlighted regarding the company's financial performance and future guidance. Verano reported a full-year revenue of $879 million and an adjusted EBITDA of $264 million, which represents 30% of their revenue. The fourth-quarter revenue was $218 million, showing a sequential increase of 1% from the previous quarter, with an adjusted EBITDA of $63 million. Retail revenue for the year totaled $672 million, while wholesale revenue reached $353 million, marking a 1% gain over the prior year. The company expanded its retail footprint by adding 17 new dispensaries across key markets such as Virginia and Arizona. Verano also experienced a net loss of $342 million for the year, largely due to impairments of intangible and fixed assets, and ended the year with $88 million in cash and cash equivalents. Looking ahead to 2025, Verano anticipates CapEx spending between $25 million and $40 million, focusing on efficiency initiatives at cultivation facilities and targeted retail expansion, while also exploring potential M&A opportunities to strengthen their market position.Strong Full Year Revenue and Wholesale Performance
For the full year 2024, Verano Holdings delivered $879 million in revenue and adjusted EBITDA of $264 million. The company achieved $353 million in total wholesale revenue, marking the highest annual total ever in the wholesale segment, with a 1% gain versus the prior year.
Expansion of Retail Footprint
In 2024, Verano strengthened its retail footprint by adding 17 new dispensaries across key markets including Virginia, Arizona, Pennsylvania, New Jersey, Connecticut, and Florida.
Innovative Product Launches
The company launched innovative products such as Extra Savvy 2 gram vape cartridges and Essence J’s barrel-style pre-roll joints, which have become top-selling items in their respective markets.
Improved Retail Productivity
In the fourth quarter, Verano increased transactions per headcount by 54% in Florida and 14% in other markets compared to the third quarter.
Positive Performance in Florida
Verano reclaimed the number two market position in Florida with an 11% market share, driven by successful facility upgrades and new product launches.
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VRNOF 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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VRNOF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 27, 2025 | $0.90 | $0.90 | 0.00% |
| Nov 07, 2024 | $2.23 | $2.04 | -8.52% |
| Aug 07, 2024 | $3.41 | $3.17 | -7.04% |
| May 08, 2024 | $4.95 | $4.90 | -1.01% |
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 Verano Holdings (VRNOF) report earnings?
Verano Holdings (VRNOF) is schdueled to report earning on May 07, 2025, TBA Not Confirmed.
What is Verano Holdings (VRNOF) earnings time?
Verano Holdings (VRNOF) earnings time is at May 07, 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 VRNOF EPS forecast?
VRNOF EPS forecast for the fiscal quarter 2025 (Q1) is -0.04.
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