May MSO Earnings Roundup; Cresco Earnings Preview
With the flurry of multistate operators having recently concluded their earnings season, we take the time to visualize some key financial metrics on a quarter-over-quarter basis. Later on in the post, we'll also take a look at what some analysts are projecting for Cresco Labs, as they plan to release their Q1 earnings after the market's close on Thursday (05/28).
As always, our Calendar is always fully updated with both earnings information, alongside sharing data and dates for share unlocks.
Aside from the offered visualizations, below each financial image are important links that will point readers to other important documents and media they may want to peruse. These resources include the company's filed MD&A, Interim Financial Statements, Webcasts, and Conference Call Transcripts.
If you would like to learn more about each company, please click through their company logo to be taken to their investor profile page where we delve into specific details such as fully diluted market cap, share count, key quarterly financial metrics, and also extrapolate on their licenses by way of a highly-detailed footprint map. Lastly, if you're interested in looking at other pertinent data, head over to our Visualizations page for more.
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MD&A (Not yet submitted - due by 05/30)
Interim Financial Statements (Not yet submitted - due by 05/30)
Cresco Labs Earnings Preview
Cresco Labs is set to report their earnings for the first quarter on Thursday, May 28, after the markets close. The company will then be hosting a conference call at 5:00PM EST.
With their Illinois peers Curaleaf (via Grassroots) and Green Thumb Industries posting strong results that directly benefited from the windfall created by Illinois' adult-use legalization efforts - a market that generated $147 million of recreation sales in its first 4 months - Cresco Labs is expected to post a brawny revenue growth themselves.
In Cresco's fourth quarter earnings, they provided guidance pointing to revenue of $66.5 million -- up 61% quarter-over-quarter and 216% year-over-year. That being said, analysts are using this management-issued guidance for their own benchmark of revenue expectations.
Analysts are anticipating the company's EBITDA figure to come in at -$2.8 million the quarter, which would be a marked improvement compared to Q4's -$11.8 million.
The company exited Q4 with $49 million in cash, but has since raised $30 million through Origin House, alongside securing debt financing of $100 million and two different sale leasebacks for approximately $27 million.
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