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3 Earnings Reports Investors Need To Know

Aug 29, 2018 • 10:59 AM GMT+0000
Canada Stocks (23).png
4 MIN READ  •  By Michael Berger
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Earnings season is heating up in the cannabis sector and this is a trend that investors need to be monitoring.

During the last week, several high-profile Canadian cannabis companies have reported earnings and the response from the market has been mixed. Today, we have highlighted 3 companies that recently reported earnings and believe that there are companies that are worth watching.

Tilray Surges on Earnings

Yesterday, Tilray, Inc., (TLRY) reported its second quarter financial results and the market responded very favorably. The shares are surging higher this morning and we are favorable on the company’s position in the global marijuana market.

Over the next year, we expect Tilray to report significantly stronger numbers and the company has recorded incredible growth on a quarter-over-quarter basis. The Canadian cannabis producer is well positioned to capitalize on Canada’s recreational market and has signed agreements to supply seven Canadian provinces and territories (British Columbia, Manitoba, Nova Scotia, Ontario, Quebec, the Yukon territory and the Northwest Territories).

Tilray is highly levered to the global marijuana market and has completed exports to Argentina, South Africa and the United Kingdom, making the company’s products available in 11 countries on five continents. We are favorable on this leverage and expect this to be a major growth driver for the company going forward.

When it comes to strategic relationship, Tilray excels and has entered into an agreement with Sandoz Canada, a division of Novartis, to collaborate on the creation and sale of co-branded and co-developed non-combustible medical cannabis products. Tilray also has an agreement with Shoppers Drug Mart Inc. and a binding letter of intent with Pharmasave, one of Canada’s leading independent pharmacy chains with more than 650 pharmacies.

Tilray’s earnings report provides countless reasons to be excited about this company and we will monitor how the shares continue to trade. The Canadian cannabis producer is in the middle of a major growth cycle and this is a stock that investors need to be monitoring.

Green Thumb Reports Strong Growth

Although the Canadian cannabis industry has been one of the most exciting places to invest, the United States market is gaining significant traction and we are monitoring this opportunity. Green Thumb Industries Inc. (GTII.CN) (GTBIF) is highly levered to the United States market and we are favorable on this opportunity.

Yesterday, Green Thumb released second quarter financial results and these number showed strong growth on a year-over-year basis. During the quarter, Green Thumb opened five RISE retail stores, bringing the total number of stores to 13. These new stores opened in Pennsylvania (Erie, Steelton, Carlisle), Maryland (Joppa), and Massachusetts (Amherst).

Through business development and acquisition-related activities, the company’s geographic reach expanded to eight markets in the United States with a total population of over 94 million and includes eight cultivation and manufacturing facilities and licenses for 59 retail stores.

Green Thumb is in the middle of a major growth cycle is focused on expanding into two of the most exciting market in the United States, Florida and New York. At the end of the second quarter, the company generated wholesale revenue by producing and distributing consumer packaged products in three out of eight markets (Illinois, Maryland and Pennsylvania). As new markets come on-line, fundamentals will continue to improve, and this is an exciting aspect of the story.

Currently, the Nevada, Massachusetts, Florida and New York market are in various stages of production and we consider this to be a significant opportunity. We are very excited by these four markets and expect them to be a major growth driver for the United States cannabis company.

WeedMD Trades Slightly Higher On Earnings

The cannabis sector has been trending higher and this has benfited many companies that were under pressure this summer. One company that came well off its lows is WeedMD (WMD.V) (WDDMF) and this come after Hiku Brands (HIKU.CN) (DJACF) cancelled its proposed acquisition.

We have been closely monitoring WeedMD, especially after it signed a definitive agreement with Phivida Holdings Inc. (VIDA.CN) (PHVAF), to develop and operate Cannabis Beverages Inc. Both companies will be strategic partners in the development of Cannabis Beverages, and we consider this to be an exciting potential growth diver.

Yesterday, WeedMD traded slightly higher after reporting second quarter financial results and we are monitoring how the shares trade from here. When compared to the prior quarter, revenue increased by more than 80% and the Canadian cannabis producer is well positioned to execute, and we are monitoring how the team continues to execute.

With a current cash balance of $43 million, the company’s expansion and business development plans are fully funded, and this is an important aspect of the story. WeedMD is in the middle of a major expansion and is laser focused on increasing production capacity. Earlier this year, the company started selling cannabis oils and this has been becoming a more significant aspect of the revenues. We expect this trend to become even more significant and will keep an eye on this.

After Hiku cancelled its acquisition of WeedMD, the market responded negatively, and the shares tanked. This created a great opportunity for investors and the shares have come well off its lows. WeedMD is led by a management team that is focused on creating value for shareholders and this is a stock to watch.

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Authored By

Michael Berger

Michael Berger is Managing Partner of StoneBridge Partners, LLC and Founder of Technical420.com. Prior to entering the cannabis industry, Michael was an Equity Research Analyst at Raymond James Financial covering the Energy Sector. Michael has been featured in publications such as The Street, Bloomberg, US Money News, and hosts various cannabis events across North America.

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