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Aphria Earnings: APHA Stock Spikes 4% on Strong FQ3


Aphria (NYSE:APHA) earnings for fiscal third quarter of 2020 have APHA stock up on Wednesday. This comes after reporting earnings per share (EPS) of 2 cents on revenue of C$144.4 million. These are both better than Wall Street’s estimates of -4 cents per share and revenue of C$130.9 million.

Aphria Earnings: APHA Stock Spikes 4% on Strong FQ3

Source: Shutterstock

Here’s what else is worth mentioning from the most recent Aphria earnings report.

  • Per-share earnings are a positive switch compared to per-share losses of -43 cents in fiscal Q3 2019.
  • Revenue is sitting 96.25% higher than the C$73.58 million from the same time last year.
  • Operating income of C$8.72 million is better than the operating loss of -C$89.26 million in the same period of the year prior.
  • The Aphria earnings report also includes a net income of C$5.7 million.
  • That’s a major change from its net loss of -$C108.21 million reported during its fiscal first quarter of the previous year.

Irwin Simon, Chairman and CEO of Aphria, said the following in the APHA stock earnings report:

“Going forward, we believe Aphria continues to be differentiated in the cannabis industry through our brands, cultivation expertise, high quality standards, cash position and balance sheet. We continue to focus on the highest return opportunities for growth and long-term value creation.”

The Aphria earnings report notes that it isn’t releasing fiscal 2020 guidance. It plans to bring back its yearly guidance once the novel coronavirus pandemic has ended. That may not happen until its fiscal 2021 year.

APHA stock was up 3.75% as of Wednesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/04/aphria-earnings-bump-apha-stock-up/.

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