Cresco Labs (OTCMKTS:CRLBF) Releases Earnings Results, Misses Expectations By $0.02 EPS

Cresco Labs (OTCMKTS:CRLBF) released its quarterly earnings data on Friday. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02), Zacks reports. Cresco Labs had a negative net margin of 20.65% and a negative return on equity of 16.61%. The business had revenue of $151.33 million for the quarter, compared to analysts’ expectations of $148.58 million.

Cresco Labs Stock Down 6.4%

CRLBF stock opened at $1.03 on Friday. Cresco Labs has a fifty-two week low of $0.43 and a fifty-two week high of $2.30. The business’s 50-day moving average is $0.98 and its two-hundred day moving average is $1.06. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.60 and a current ratio of 2.59. The company has a market cap of $517.84 million, a price-to-earnings ratio of -2.64 and a beta of 1.59.

Analyst Ratings Changes

Separately, Zacks Research raised Cresco Labs from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy”.

Cresco Labs Company Profile

Cresco Labs is a vertically integrated, multi-state cannabis operator in the United States. The company engages in the cultivation, manufacturing and distribution of a broad range of cannabis products, including flower, pre-rolled joints, concentrates, vaporizers, edibles and tinctures. Cresco Labs’ operations span cultivation facilities, processing laboratories and a network of wholesale distribution centers that supply licensed dispensaries and retail outlets across key cannabis markets.

The company’s product portfolio is organized under several branded platforms, such as MÜV, Reserve and High Supply, each designed to address different segments of the adult-use and medical cannabis markets.