-=Canopy Growth (CGC) reported earnings on Fri 27 May 22 (b/o)

 

Canopy Growth misses by CAD1.25, misses on revs 

• Reports Q4 (Mar) loss of CAD1.46 per share, CAD1.25 worse than the S&P Capital IQ Consensus of (CAD0.21); revenues fell 24.7% year/year to CAD126.1 mln vs the CAD130.34 mln S&P Capital IQ Consensus.
• Outlook - Company expects to be Adjusted EBITDA positive in FY2024 excluding investments in BioSteel and U.S. THC.
• In FY23, co intends to focus on strengthening its market position in premium segments in Canada, identifying opportunities to expand brands in the US and within the Canadian recreational market, and making investments to increase distribution, brand activation, and new product development. Co expects to be adj. EBITDA positive in FY24, excluding investments in BioSteel and US THC.