Earnings season is in full swing, and the market is now preparing to review and scrutinize the numbers of seven top U.S. Multi-State Operators. With a handful of the top Canadian players such as Aurora Cannabis (TSX: ACB) (NYSE: ACB) and Tilray (NASDAQ: TLRY) already reporting earnings, the attention now shifts South of the border.
Let’s dive right in and review the seven U.S. MSOs set to report earnings this week.
Charlotte’s Web Holdings, Inc. (CSE: CWEB) (OTCQX: CWBHF)
- Date Reporting: May 28, 2019, After market close
- Period Reporting: Q1 2019
- Analyst Consensus Revenue Estimate: USD $21.7 Million
- Market Cap: $1.83 Billion
- Current Share Price: CDN $19.36
- Earnings Conference Call Details: To participate in CWEB’s earnings call, please dial 1-647-427-7450 or 1-888-231-8191 approximately 10 minutes before the conference call and provide conference ID 7798405. A live webcast of the call can be accessed here.
Charlotte’s Web Holdings, Inc. is the market leader in the production and distribution of innovative hemp-derived cannabidiol (“CBD”) wellness products. Founded by the Stanley Brothers, the Company’s premium quality products start with proprietary hemp genetics that are responsibly manufactured into hemp-derived CBD extracts naturally containing a broad spectrum of phytocannabinoids, including CBD, terpenes, flavonoids and other beneficial hemp compounds. Industrial hemp products are non-intoxicating. Charlotte’s Web product categories include CBD Oil tinctures (liquid products), CBD capsules, CBD topicals, as well as CBD pet products.
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Acreage Holdings, Inc. (CSE: ACRG.U) (OTCQX: ACRGF)
- Date Reporting: May 28, 2019, After market close
- Period Reporting: Q1 2019
- Analyst Consensus Revenue Estimate: USD $30.4 Million
- Market Cap: $2.2 Billion
- Current Share Price: CDN $18.86
- Earnings Conference Call Details: Acreage Management will host a call to discuss the results on May 29, 2019, at 8:30 AM EST. Click here to access the live investor webcast.
Acreage Holdings is the largest vertically integrated, multi-state owner of cannabis licenses and assets in the U.S. with respect to the number of states with cannabis-related licenses, according to publicly available information. Acreage owns licenses to operate or has management services or consulting agreements in place with license holders to assist in operations in 20 states (including pending acquisitions) with a population of approximately 180 million Americans, and an estimated 2022 total addressable market of more than $17 billion in legal cannabis sales, according to Arcview Market Research.
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Origin House (CSE: OH) (OTCQX: ORHOF)
- Date Reporting: May 29, 2019
- Period Reporting: Q1 2019
- Analyst Consensus Revenue Estimate: USD $23.7 Million
- Market Cap: $741 Million
- Current Share Price: CDN $10.93
- Earnings Conference Call Details: Origin House will not hold a public conference call in connection with this release. See Cresco Labs below for their conference call details.
Origin House is a growing cannabis brands and distribution company operating across key markets in the U.S. and Canada, with a strategic focus on becoming a preeminent global house of cannabis brands. Origin House’s foundation is in California, the world’s largest regulated cannabis market, where it delivers over 130 branded cannabis products from 50+ brands to the majority of licensed dispensaries.
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Cresco Labs, Inc. (CSE: CL) (OTCQX: CRLBF)
- Date Reporting: May 29, 2019, After market close
- Period Reporting: Q1 2019
- Analyst Consensus Revenue Estimate: USD $23.7 Million
- Market Cap: $3 Billion
- Current Share Price: CDN $14.11
- Earnings Conference Call Details: Cresco Labs will hold a conference call and webcast to discuss its financial results on Wednesday, May 29, 2019, at 6 p.m. EST. The conference call may be accessed via Cresco Labs’ investor relations website or by dialing 866-688-4235 (409-216-0711 for international callers) and providing conference ID 5478615.
Cresco Labs, based in Chicago, is a leading U.S. cannabis company with experienced management, access to capital and a demonstrated growth strategy. As a differentiated grower, processor and retailer of premium cannabis operating across the United States, the company focuses on entering highly regulated markets with outsized demand potential and strong regulatory structures. On April 1, 2019, Cresco Labs announced that it would acquire Origin House for $1.1 billion in the largest ever planned merger in U.S. cannabis history.
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MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF)
- Date Reporting: May 29, 2019, After market close
- Period Reporting: Fiscal Q3 2019
- Analyst Consensus Revenue Estimate: USD $35.5 Million
- Market Cap: $1.4 Billion
- Current Share Price: CDN $3.10
- Earnings Conference Call Details: MedMen will host a conference call and audio webcast at 5:00 PM EST on May 29, 2019, to discuss the financial results in further detail. A live audio webcast of the call will be available here. Call-In Information: Toll-Free Dial-In Number: (844) 559-7829. International Dial-In Number: (647) 689-5387. Conference ID: 1895524.
MedMen is a cannabis retailer with operations across the U.S. and flagship stores in Los Angeles, Las Vegas and New York. MedMen’s mission is to provide an unparalleled experience that invites the world to discover the remarkable benefits of cannabis because a world where cannabis is legal and regulated is a safer, healthier and happier world.
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Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF)
- Date Reporting: May 30, 2019, After market close
- Period Reporting: Q1 2019
- Analyst Consensus Revenue Estimate: USD $37.5 Million
- Market Cap: $5.3 Billion
- Current Share Price: CDN $12.67
- Earnings Conference Call Details: Curaleaf will host a conference call and audio webcast on May 30, 2019, at 6:00 p.m. EST to answer questions about the Company’s operational and financial highlights. Call in information +1-877-407-9039 (U.S. Toll-Free) or +1-201-689-8470 (International). Click here for the live webcast.
Curaleaf Holdings is the leading vertically integrated multi-state cannabis operator in the United States. It is a high-growth cannabis company with a national brand known for quality, trust, and reliability. The company is positioned in highly populated, limited license states, and currently operates in 12 states with 44 dispensaries, 12 cultivation sites, and 11 processing sites.
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Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF)
- Date Reporting: May 30, 2019, After market close
- Period Reporting: Q1 2019
- Analyst Consensus Revenue Estimate: USD $27.4 Million
- Market Cap: $2.6 Billion
- Current Share Price: CDN $16
- Earnings Conference Call Details: Green Thumb’s earnings conference call may be accessed by dialing 877-273-8145 (Toll-Free) or 647-689-5400 (International) with conference ID: 9458208. A live audio webcast of the call will also be available here.
Green Thumb Industries is a national cannabis consumer packaged goods company and retailer. GTI is dedicated to providing dignified access to safe and effective cannabis while giving back to the communities in which they serve. As a vertically integrated company, GTI manufactures and distributes a portfolio of branded cannabis products including Rythm, Dogwalkers, The Feel Collection, and Beboe, among others.
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