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GrowGeneration: Wrong-way cannabis earnings play of the day
GrowGeneration killed it on today's earnings report, but dropped about 5%. This presents a buying opportunity.
The company reported GAAP earnings of $.03 per share, beating analyst estimates of $0.02/share. It reported revenue of $21.8 million, vs. the forecast of $20.621 million. These are big year-over-year increases. This time last year, the company reported a loss of ($.02) per share. Revenue is up $13.4 million, or 159% over last year's quarterly report of $8.400 million. The company raised its full-year revenue forecast to about $75M. Same-store sales and profit margins both saw large increases.
Coming after analyst downgrades for Aurora Cannabis and CanopyGrowth, GrowGeneration's results make it a standout small-cap player in the ever-popular cannabis sector. Overall, this company is executing like a boss.
The company reported GAAP earnings of $.03 per share, beating analyst estimates of $0.02/share. It reported revenue of $21.8 million, vs. the forecast of $20.621 million. These are big year-over-year increases. This time last year, the company reported a loss of ($.02) per share. Revenue is up $13.4 million, or 159% over last year's quarterly report of $8.400 million. The company raised its full-year revenue forecast to about $75M. Same-store sales and profit margins both saw large increases.
Coming after analyst downgrades for Aurora Cannabis and CanopyGrowth, GrowGeneration's results make it a standout small-cap player in the ever-popular cannabis sector. Overall, this company is executing like a boss.
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