Aurora Cannabis (NYSE:ACB) earnings for the cannabis company’s fiscal first quarter of 2020 have ACB stock taking a beating on Thursday. This comes after reporting adjusted flat per-share earnings on revenue of $53.45 million. Wall Street was looking for per-share losses of -3 cents and revenue of $53.08 million.
Let’s see what else went on in the most recent Aurora Cannabis earnings report.
- Adjusted EPS for the quarter is down 100% from the same time last year.
- Revenue for the quarter is a 138.62% increase over the $22.40 million reported in the same period of the year prior.
- Loss from operations of -$58.44 million is 30.81% narrower than the -$84.46 million reported in fiscal Q1 2019.
- Net income for the Aurora Cannabis earnings report comes in at $7.83 million.
- That’s a 90.05% drop from the company’s net income of $78.66 million in its fiscal first quarter of the previous year.
Terry Booth, CEO of Aurora Cannabis, says this about the most recent earnings.
“Despite short term distribution and regulatory headwinds in Canada that have temporarily impacted the industry, the long-term opportunity for Aurora in the global cannabis and cannabinoids market is immense.”
The Aurora Cannabis earnings report drops alongside another update from the company. This has it allowing convertible debentures due March 9, 2020, to be traded in early. It is allowing this starting Nov. 18, 2019, until 5:00 p.m. Eastern Time on Nov. 20, 2019.
ACB stock was down 9.73% in after-hours trading on Thursday. The stock also closed out the day down 7.32%.
As of this writing, William White did not hold a position in any of the aforementioned securities.