Trulieve Cannabis Q2, 2024, Financials Improved Across The Board -

Trulieve Cannabis Q2, 2024, Financials Improved Across The Board

Aug 06, 2024Jeremy ParkinsonFinance0

Trulieve logo (PRNewsfoto/Trulieve Cannabis Corp.)
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), a constituent in the munKNEE American Cannabis MSO Stocks Portfolio, announced its financial results for Q2 ended June 30th, 2024, as follows, comparing Q2 2024 with Q1 2024 and with all figures are in U.S. dollars.

Q2 Financial Highlights

Revenue: UP 1.7% to $303M

Gross Profit: UP 4.6% to $182M

as a % of Revenue: UP to 60% from 58%

SG&A Expenses: DOWN 29.7% to $71M

as a % of Revenue: DOWN to 23.4% from 33.9%

Net Income (Loss): Loss reduced by 47.8% to $(12)M

Adj. EBITDA: Increased 0.9% to $107M

as a % of Revenue: DOWN to 35.0% from 35.5%

Cash on Hand: UP 8.9% to $356M

Q2 Operational Highlights

Opened 3 new dispensaries in Florida and acquired 2 dispensaries in Ohio and now has 32% of its 206 retail locations outside of Florida.

Management Commentary
Kim Rivers, Trulieve CEO, said:

“…Second quarter results demonstrated strength in our core business with our third consecutive quarter of revenue growth and margin expansion…[and], given our financial performance and significant scale in key markets, Trulieve is…[well] positioned for the coming wave of growth catalysts.”

Stock Performance
Trulieve Cannabis stock is UP 9% as of mid-day and is now UP 79% YTD.Please note: If you Comment on this article (see below) you will automatically be entered in TalkMarkets’ contest to win an Amazon Echo Show device which has a retail value of $229 and have the ability to engage directly with me and other commentators.More By This Author:Pure-Play AI Chip Stocks Declined 5%, On Average, In July
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