Aphria (NYSE:APHA) earnings for the cannabis company’s fiscal second quarter of 2020 have APHA stock taking a beating. The company reported losses per share of -2 cents, which is what Wall Street was expecting. However, its revenue of $92.38 million is below analysts’ estimates of $99.43 million.
Now for a closer look at the most recent Aphria earnings report.
- Per-share losses are a switch from the company’s previous earnings per share of 17 cents in the same period of the year prior.
- Revenue for the quarter comes in 455.84% higher than the $16.62 million in fiscal Q2 2019.
- The Aphria earnings report also has net loss coming in at -$6.07 million.
- That’s worse off than the $41.95 million in net income from the same time last year.
Irwin Simon, the Chairman and new CEO of Aphria, says this about the latest APHA stock earnings report.
“We are very pleased with our strong growth and execution in Canada demonstrated by our increase in adult-use cannabis revenue and positive adjusted EBITDA as a result of our compelling brands and market positioning. We are continuing to expand our capabilities internationally with solid progress during the quarter in Germany and South America and look to monetize non-core assets.”
The Aphria earnings report also includes a new outlook for the full year of fiscal 2020. The company now expects revenue for this period to range from $575 million to $625 million.
APHA stock was down 7.06% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.