CbdMD Earnings: YCBD Stock Shoots 81% Higher on Q2 Beat

CbdMD (NYSEAMERICAN:YCBD) earnings for fiscal second quarter of 2020 have YCBD stock heading higher on Monday. That’s thanks to its diluted earnings per share (EPS) of 40 cents blowing past Wall Street’s diluted losses per share estimate of 8 cents. Its revenue of $9.4 million is below analysts’ estimates of $11.33 million.

CbdMD Earnings: YCBD Stock Shoots 78% Higher on Q2 Beat

Source: Shutterstock

Now, let’s take a closer look at the most recent cbdMD earnings report below.

  • The company doesn’t have diluted per-share data from the same time last year available.
  • Revenue for the quarter is up 67% compared to $5.64 million during the fiscal second quarter of 2019.
  • Operating loss of $5.6 million is 178.6% wider year-over-year than $2.01 million.
  • The cbdMD earnings report also has it bringing in a net income of $14.88 million.
  • That’s a massive increase compared to the company’s net loss of $31.85 million in the same period of the year prior.

Martin Sumichrast, chairman and co-CEO of cbdMD, said this of the fiscal Q2 earnings:

“Our gross profit margin remains strong at 67% year-to-date and 70.9% for the quarter. Our overall direct to consumer e-commerce sales for the March fiscal quarter were $6.8 million or 72% of our total net sales, an increase of $2.5 million or 58% from the prior year’s quarter.”

CbdMD also reveals its expectations for the future in the current earnings report. The company says that it is currently on track to turn in positive cash flow during the current year.

YCBD stock was up 81.4% as of Monday 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/2020/05/cbdmd-earnings-boost-ycbd-stock-higher/.

©2021 InvestorPlace Media, LLC