-=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.

Earnings this week : May 23 - 27, 22 (wk 21)

Monday (May 23)

• Afternoon: AAP HEI NDSN SKY WKME ZM

Tuesday (May 24)

• Morning: ANF ATHM AZO BBY CSIQ DOLE FRO NTES WOOF RL
• Afternoon:  A CAL INTU RAMP JWM TOL URBN

Wednesday (May 25)

• Morning:  BMO BNS CMCO DKS DY PLAB
• Afternoon:  BOX CHNG DXC ELF ENS GES NTNX NVDA SNOW SPLK VSAT WSM ZUO

Thursday (May 26)

• Morning: BABA AMWD BIDU BZUN BRC BURL CM DG DLTR GCO HLNE JACK M MANU MDT ROLL RY SAFM TITN TD
• Afternoon:  ME AEO ADSK COST DELL DOMO FTCH GPS LGF.A MRVL RRGB STEP SUMO ULTA VMW WDAY ZS

Friday (May 27)  

• Morning:  BIG CGC HIBB

-=Canopy Growth (CGC) reported earnings on Fri 14 Feb 20 (b/o)

• Feb. 11: #5; vol. 8.8M;  +15%
• Last summer, Canopy's board, which is controlled by Constellation, ousted then co-CEO Bruce Linton. David Klein, Constellation's former CFO, became Canopy's CEO last month.
• Constellation initially invested in Canopy in 2017 with the hopes of developing cannabis-infused drinks to offset a plateau in booze sales. But analysts say cannabis beverages are likely to remain a small part of the overall cannabis market.

Canopy Growth beats by $0.13, beats on revs

Reports Q3 (Dec) loss of CC$0.35 per share, CC$0.13 better than the S&P Capital IQ Consensus of (CC$0.48); revenues rose 49.0% year/year to CC$123.7 mln vs the CC$104.85 mln S&P Capital IQ Consensus.

Canadian marijuana giant Canopy Growth's (CGC) fiscal third-quarter results beat forecasts on Friday, helped by a bigger store count and a more aggressive cost-cutting drive. Canopy Growth stock soared, leading a rally in marijuana stocks.

During the company's conference call, Canopy's new CEO, David Klein, also said Canopy would take further steps to "rightsize" business over the next 90 days. He said the company would pull back on mergers and acquisitions, do more to balance its weed supplies with demand, and put more thought into "where we won't play as well as where we will."

Even as financing dries up for the industry, Klein said the company's $2.3 billion in cash — thanks to a big investment from his former employer, beer-and-wine distributor Constellation Brands (STZ) — "cannot be understated."

But delays in beverages and some vaping products, Canopy said, would have a "modest" impact on growth. Growth in the next quarter, it said, will also likely be modest, after a strong December and demand for its Storz & Bickel vaporizers.

Klein also said Canopy needed to get better at putting out products customers wanted, and bring more discipline to the company. Rivals, meanwhile, are pushing cheap weed in an effort to draw customers from the illicit market.

Earnings this week : Feb 10 - 14, 20 (wk 7)

Monday (Feb 10)

• Morning: AGN AVYA BIP CNA DO EPC GBDC IVC L MCY QSR
• Afternoon: AMKR BLKB BHF BRX ELY CHGG CMP DVA EEFT RE FRT FLDM IIIV IIVI JCOM KMPR LMNX MELI MESA MIME MOH OMF PSEC RPD RNG STE VRNS VOYA WTS XPO

Tuesday (Feb 11)

• Morning: AN CRL CEIX CRTO DBD D EXC GT HAS HLT INGR JLL LCII LPX MMYT MLM MAS MLCO NNN OMC ONDK SEE ST FLOW TGNA UAA USFD VIRT

Mon pm & Tue am https://finviz.com/screener.ashx?v=211&t=AMKR,BLKB,BHF,BRX,ELY,CHGG,CMP,DVA,EEFT,RE,FRT,FLDM,IIIV,IIVI,JCOM,KMPR,LMNX,MELI,MESA,MIME,MOH,OMF,PSEC,RPD,RNG,STE,VRNS,VOYA,WTS,XPO,AN,CRL,CEIX,CRTO,DBD,D,EXC,GT,HAS,HLT,INGR,JLL,LCII,LPX,MMYT,MLM,MAS,MLCO,NNN,OMC,ONDK,SEE,ST,FLOW,TGNA,UAA,USFD,VIRT&ta=0&o=-volume

• Afternoon: ACCO AKAM ACGL AIZ BXMT CNO CPSI DCP DENN DIOD DEI EXAS PEAK NSP KRNT LSCC LYFT NCR PVG PRI REXR TGH UDR VREX VNOM WU

Wednesday (Feb 12)

• Morning: AB ARCC GOLD BG CVE ECOM CIM CME CIGI CVS CYBR GPN NSIT IPG IQV LAD TAP MCO NBL RDWR SHOP TEVA TW TRVG

Tue pm & Wed am https://finviz.com/screener.ashx?v=211&t=ACCO,AKAM,ACGL,AIZ,BXMT,CNO,CPSI,DCP,DENN,DIOD,DEI,EXAS,PEAK,NSP,KRNT,LSCC,LYFT,NCR,PVG,PRI,REXR,TGH,UDR,VREX,VNOM,WU,AB,ARCC,GOLD,BG,CVE,ECOM,CIM,CME,CIGI,CVS,CYBR,GPN,NSIT,IPG,IQV,LAD,TAP,MCO,NBL,RDWR,SHOP,TEVA,TW,TRVG&ta=0&o=-volume

• Afternoon: AKR ATUS AEL ANDE NLY AM AR AMAT ARES ASGN AVLR NTB BRKR CDNS CTL CF CHNG CHEF CSCO COHU CPA CXW EFX EQIX EQC FR FOSL FCPT FTSI HR HUBS IFF KGC LPI MFC MRO MGM NTAP NWE NUS PGRE PEGA PRSP PS QLYS QDEL QUOT RDFN REG SSNC STAG SLF SPWR TCO TTGT TRMB TRIP TCX TYL WCN WELL

Thursday (Feb 13)

• Morning: AER AGIO BABA ALKS ALE AIMC AIG BPMC BWA BAM GTLS CBB DAN DLPH DUK EEX DAVA FIS FAF FTS GNRC HE HIMX HII HUN INCY IPGP IRM IRWD KELYA KHC LH LECO MTRN NGD NMRK NICE NVMI PATK PBF PBFX PEP POOL PDS R SSTK SITC SON TRP TPX THS TUFN WM WSO WST WEX WH YETI ZBRA ZTS

Wed pm & Thur am:  https://finviz.com/screener.ashx?v=211&t=AKR,ATUS,AEL,ANDE,NLY,AM,AR,AMAT,ARES,ASGN,AVLR,NTB,BRKR,CDNS,CTL,CF,CHNG,CHEF,CSCO,COHU,CPA,CXW,EFX,EQIX,EQC,FR,FOSL,FCPT,FTSI,HR,HUBS,IFF,KGC,LPI,MFC,MRO,MGM,NTAP,NWE,NUS,PGRE,PEGA,PRSP,PS,QLYS,QDEL,QUOT,RDFN,REG,SSNC,STAG,SLF,SPWR,TCO,TTGT,TRMB,TRIP,TCX,TYL,WCN,WELL,AER,AGIO,BABA,ALKS,ALE,AIMC,AIG,BPMC,BWA,BAM,GTLS,CBB,DAN,DLPH,DUK,EEX,DAVA,FIS,FAF,FTS,GNRC,HE,HIMX,HII,HUN,INCY,IPGP,IRM,IRWD,KELYA,KHC,LH,LECO,MTRN,NMRK,NICE,NVMI,PATK,PBF,PBFX,PEP,POOL,PDS,R,SSTK,SITC,SON,TRP,TPX,THS,TUFN,WM,WSO,WST,WEX,WH,YETI,ZBRA,ZTS&ta=0&o=-volume

• Afternoon: AEM AYX AMN ARI ANET BIO BKI BL BFAM CARG CC CGNX CXP CRY DDOG DXCM DLR EXPE FNF GDDY HTA LPSN MAT MERC MHK MRC NVDA PDFS RSG ROKU SWAV SPSC SPXC SVMK TLND TEX TNET TRUP RARE VECO WRE AUY YELP

Friday (Feb 14) 

• Morning: AXL ABR AZN CGC ENB ESNT MGP NWL POR PPL SXT TRTN YNDX
• Afternoon: AL

Notable earnings reports:
Restaurant Brands (NYSE:QSR) on February 10; Lyft (NASDAQ:LYFT), Hasbro (NASDAQ:HAS), Hilton (NYSE:HLT), Under Armour (UAA), and Western Union (NYSE:WU) on February 11; Cisco (NASDAQ:CSCO), CVS Health (NYSE:CVS), Shopify (NYSE:SHOP), Teva Pharmaceuticals (NYSE:TEVA) and TripAdvisor (NASDAQ:TRIP) on February 12; Alibaba, Nvidia, PepsiCo, Roku (NASDAQ:ROKU), AIG (NYSE:AIG) and Yelp (NYSE:YELP) on February 13; AstraZeneca (NYSE:AZN) on February 14.

=Canopy Growth (CGC) reported earnings on Wed 14 Aug 2019 (a/h)

Canopy Growth (CGC), the world's most valuable cannabis company, reported fiscal first-quarter sales that missed expectations and a far steeper loss than expected — the latest blow to the company following the ouster of its CEO last month and to marijuana stocks more broadly.

The Canadian marijuana grower reported a net loss of C$1.28 billion, or $961.69 million USD. Of that, C$1.12 billion was a noncash charge, due to extinguished warrants related to its deal with Constellation Brands (STZ).

Earnings this week : Aug 12 - 16, 19 (wk 33)

Notable earnings reports:

• Barrick Gold (NYSE:GOLD), Sysco (NYSE:SYY), on August 12;
• JD.com (NASDAQ:JD), Tilray (NASDAQ:TLRY),  Grocery Outlet (GO), Huya (HUYA) and Brinker International on August 13; 
•  Myriad Genetics (MYGN), Sundial Growers (SNDL), Canada Goose (GOOS), Cisco Systems (NASDAQ:CSCO), Macy's (NYSE:M), Agilent Technologies (NYSE:A), Luckin Coffee (NASDAQ:LK), Canopy Growth (CGC)
   and Tencent (OTCPK:TCEHY) on August 14; 
• Tapestry (TPR), Nvidia (NASDAQ:NVDA), Alibaba (BABA) and Wal-Mart (WMT), Briggs & Stratton (BGG), Canadian Solar (CSIQ), PagSeguro Digital (PAGS),  Applied Materials (NASDAQ:AMAT), Nio (NYSE:NIO) and Madison Square Garden (NYSE:MSG) on August 15; 
• Deere (NYSE:DE) on August 16.

Canopy Growth (CGC) reported earnings on Thur 20 June 19 (a/h)

** charts before earnings **

 

** charts after earnings **

Canopy Growth misses by $0.66, reports revs in-line; Revenues increase 312% y/y; Expansion costs increase 426%; Stock trading 2% higher in light after hours trade

• Reports Q4 (Mar) loss of CC$0.98 per share, excluding non-recurring items, CC$0.66 worse than the S&P Capital IQ Consensus of (CC$0.32); revenues rose 312.7% year/year to CC$94.1 mln vs the CC$93.69 mln S&P Capital IQ Consensus.
  • Fourth quarter revenue growth of 13% versus third quarter with additional revenue being generated through value-added products, extraction services, and clinic partners.
  • Average Selling Price per gram (Recreational) $7.28 
  • Average Selling Price (Canadian Medical $8.17, +2% y/y
  • Average Selling Price (International Medical) $13.91, +4%
  • Kilogramd and kilogram equivalent sold $9.326, +269% y/y
• Canadian cannabis harvested expected to increase to approximately 34,000 kilograms in Q1 fiscal 2020, with further licensed capacity still to come; additional capacity is expected to increase finished inventory available for sale beginning in Q2 fiscal 2020. Rapid expansion into United States CBD market following passage of new Farm Bill; investments and partnerships related to extraction, advanced manufacturing, and warehousing/logistics are underway. Seeking to bring CBD products to market by the end of fiscal 2020.
• Gross margin (before the IFRS fair value impacts in cost of sales) for fiscal 2019 grew 35% to $51 million, driven by growth in our medical channel and the launch of the Canadian recreational channel. The gross margin percentage decreased during the year from 48% to 22%, largely driven by the continued expansion work on several of our large-scale greenhouse facilities throughout the year, resulting in under-utilization impact in cost of sales.

Canopy Growth On Call

• says patients in medical were down Y/Y, but decline was expected
• 'bottom of margin trough' this quarter
• waiting for regulation to say they can produce chocolates and vapes in Canada
  • notes important events in December
• expects reported gross margin to be above 40% by end of year as it produces full utilization

Canopy Growth Corp. (CGC) reported earnings on Wed 14 Nov 18 (b/o)

** charts before earnings **

 

** charts after earnings **

The Canada-based cannabis company reported a wider fiscal second-quarter loss and revenue that rose less than expected. The net loss for the quarter to Sept. 30 was C$330.61 million, or $1.52 a share, after a loss of C$1.61 million, or 1 cent a share in the same period a year ago. The results included non-cash share-compensation expenses, fair value changes on financial assets and liabilities and other non-cash expenses which added C$115.7 million, or 52 cents a share, to the net loss.

Revenue rose 33% to C$23.3 million, below the FactSet consensus of three analysts of C$60.0 million. Sales of oils represented 34% of product revenue, compared with 18% a year ago. Kilograms of cannabis harvested jumped 265% to 15,127, while kilograms sold increased 9% to 2,197 and the average selling price per gram grew 24% to C$9.87. After the recreational cannabis was legalized in Canada, the company made only limited "test" shipments of C$700,000. Active registered patients rose 34% to 84,400. The stock has run up 44% over the past three months through Tuesday, while the ETFMG Alternative Harvest ETF (MJ) has climbed 19.5% and the S&P 500 (SPX) has slipped 3.5%.

Earnings this week : November 12 - 16, 18 (wk 46)

Earnings confirmed to report this week:

Monday (Nov 12) 

• Morning: ACB ACM ATHM
• Afternoon:  APU EB EQH EXPI FOCS HUYA KRNT NVGS TDW UGI VERI YRD YY

Tuesday (Nov 13)

• Morning:   AAP ARMK BZH CAE DQ EPC EYE GDS HD TSN
• Afternoon:  AMRS CDLX CWK HI HOLI MTSI ORIG PETQ REZI SSTI SVMK SWCH TLRY VREX WIX

Wednesday (Nov 14)

• Morning:  APRN BPMP CGC CVIA GOOS LX M MTOR QIWI
• Afternoon: CPA CSCO NTAP NTES PRSP SFS VIPS WPM ZTO

Thursday (Nov 15)

• Morning: BERY BRC CSIQ CUB DDS ENR JCP LXFT MANU SPH SR TK TNK WMT WUBA
• Afternoon: AMAT CRMT DWCH ESE GLOB HTHT JWN MATW  NGVC  NVDA POST SCVL SONO WAIR WSM

Friday (Nov 16)

• Morning: HP FRO  VIAB

Options trade: Canopy Growth (CGC)

•  Nov. 2

• Jan 10:

Long trade : Canopy Growth Corporation (CGC) +20% (8/18)

Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a medical marijuana company based in Smiths Falls, Ontario, founded by Bruce Linton and Chuck Rifici in 2014. Rifici left the company in 2015.

The company engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps.

• Sector: Healthcare
• Industry: Drug Manufacturers - Specialty & Generic
• Full Time Employees: 1,033
• http://www.canopygrowth.com

 

• A week later: