Cresco Labs (OTCMKTS:CRLBF) Releases Earnings Results, Misses Expectations By $0.02 EPS
Cresco Labs (OTCMKTS:CRLBF) reported quarterly earnings of ($0.05) per share, missing expectations by $0.02. Revenue was $165 million, surpassing estimates of $163.74 million. The company has a negative return on equity of 11.77% and a negative net margin of 6.67%. Analysts have downgraded the stock from "hold" to "strong sell," with a consensus rating of "hold." The stock opened at $1.07, with a market cap of $380.85 million and a PE ratio of -7.13.
Cresco Labs (OTCMKTS:CRLBF - Get Free Report) posted its quarterly earnings results on Friday. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02), Zacks reports. The business had revenue of $165.00 million during the quarter, compared to analyst estimates of $163.74 million. Cresco Labs had a negative return on equity of 11.77% and a negative net margin of 6.67%.
Cresco Labs Price Performance
OTCMKTS:CRLBF opened at $1.07 on Friday. The stock has a market capitalization of $380.85 million, a PE ratio of -7.13 and a beta of 1.51. Cresco Labs has a 1-year low of $0.43 and a 1-year high of $1.62. The firm has a fifty day simple moving average of $1.21 and a 200 day simple moving average of $0.89. The company has a current ratio of 3.10, a quick ratio of 2.22 and a debt-to-equity ratio of 1.33.
Wall Street Analyst Weigh In
Separately, Zacks Research cut shares of Cresco Labs from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold".
Get Our Latest Stock Report on CRLBF
About Cresco Labs
(Get Free Report)Cresco Labs Inc, together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. It provides cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand; vape carts, vape pens, flower, popcorn, shake, pre-rolls, shorties, and concentrates under the High Supply brand; vapes and gummies under the Good News brand; vapes and edibles under the Wonder Wellness Co brand; and tinctures, capsules, salves, and sublingual oils under the Remedi brand.
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