Cresco Labs (OTCMKTS:CRLBF) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Cresco Labs (OTCMKTS:CRLBF) posted its quarterly earnings results on Thursday. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06, Zacks reports. Cresco Labs had a negative net margin of 20.90% and a negative return on equity of 17.98%.

Cresco Labs Stock Up 9.6%

OTCMKTS CRLBF traded up $0.06 during trading hours on Thursday, hitting $0.72. The company had a trading volume of 663,256 shares, compared to its average volume of 770,760. The firm’s 50 day moving average is $0.79 and its 200 day moving average is $0.92. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.51 and a quick ratio of 1.41. Cresco Labs has a fifty-two week low of $0.59 and a fifty-two week high of $2.30. The company has a market capitalization of $361.98 million, a price-to-earnings ratio of -1.85 and a beta of 1.54.

Analyst Ratings Changes

Separately, Alliance Global Partners reissued a “buy” rating on shares of Cresco Labs in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

About Cresco Labs

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.