Green Thumb Posts Nearly 15% Rise In Q2 Revenue, Thank You New Jersey And Illinois
Green Thumb Posts Nearly 15% Rise In Q2 Revenue, Thank You New Jersey And Illinois
Green Thumb Industries Inc. (CSE:GTII) (OTCQX:GTBIF) reported its financial results for the second quarter ended June 30, 2022.
綠拇指工業公司。(CSE：GTII)(場外交易市場代碼：GTBIF)公佈了截至2022年6月30日的第二季度財務業績。
Highlights for the second quarter and six months ended June 30, 2022:
截至2022年6月30日的第二季度和六個月的要點：
- Revenue increased 4.8% sequentially and 14.6% year-over-year to $254.3 million.
- First half 2022 revenue increased 19.4% to $496.9 million compared to the first half of 2021.
- Eighth consecutive quarter of positive GAAP net income, delivering $24.4 million or $0.11 per basic and $0.10 per diluted share.
- Adjusted Operating EBITDA grew 17.4% sequentially to $78.7 million or 31.0% of revenue. Cash flow from operations of $39.9 million year-to-date.
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"Despite the macro and consumer headwinds, our team continued to execute and build momentum. The complexity in U.S. cannabis makes us work harder and smarter every day to create long-term value for all our stakeholders," said Ben Kovler, Green Thumb founder, chairman and CEO. "We are confident in our strategy, we believe in our brands, and we are committed to promoting well-being through the power of cannabis for the American people."
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Second Quarter 2022 Financial Overview
Total revenue for the second quarter 2022 was $254.3 million, up 4.8% sequentially and up 14.6% from $221.9 million in the prior year period. Revenue growth was primarily driven by increased retail sales in New Jersey, reflecting the legalization of adult-use cannabis; increased retail sales in Illinois; 19 additional retail locations versus second quarter last year, and increased traffic in the Company's 77 open and operating retail stores.
All 15 of Green Thumb's state markets contributed to second-quarter revenue: California, Colorado, Connecticut, Florida, Illinois, Maryland, Massachusetts, Minnesota, Nevada, New Jersey, New York, Ohio, Pennsylvania, Rhode Island and Virginia. The Company continued to invest in expanding its cultivation and manufacturing capabilities across its footprint.
Gross profit for the second quarter 2022 was $125.8 million or 49.5% of revenue compared to $122.9 million or 55.4% of revenue year-over-year. Gross profit performance was driven by increased sales in the Company's retail business, new store openings, New Jersey adult-use sales and continued growth in the Illinois market.
Total selling, general and administrative expenses for the second quarter were $63.5 million or 25.0% of revenue, compared to $72.1 million or 32.5% of revenue for the second quarter 2021. The decrease in total expenses primarily reflected a non-cash reduction in acquisition-related contingent liabilities.
Net income attributable to the Company for the second quarter 2022 was $24.4 million or $0.11 per basic and $0.10 per diluted share, compared to a net income of $22.1 million, or income of $0.10 per basic and diluted share in the prior year period.
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Green Thumb At Benzinga Cannabis Capital Conference
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Why not come and meet Green Thumb's Wendy Berger, a member of the board of directors who will be a keynote speaker at the Benzinga Cannabis Capital Conference on Sept. 13-14 in Chicago?
Get your conference tickets HERE and stay with us at the historic Palmer House by reserving your room HERE.
- 營收環比增長4.8%，同比增長14.6%，至2.543億美元。
- 與2021年上半年相比，2022年上半年的收入增長了19.4%，達到4.969億美元。
- GAAP淨收入連續第八個季度為正，基本收益為2440萬美元，基本收益為0.11美元，稀釋後每股收益為0.10美元。
- 調整後的營業EBITDA環比增長17.4%，至7870萬美元，佔收入的31.0%。今年迄今的運營現金流為3990萬美元。
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儘管面臨宏觀和消費者的逆風，我們的團隊仍在繼續執行和建立勢頭。美國大麻的複雜性使我們每天都更努力、更聰明地工作，為我們所有的利益相關者創造長期價值。本·科夫勒，Green拇指創始人、董事長兼首席執行官。我們對我們的戰略充滿信心，我們相信我們的品牌，我們致力於通過大麻的力量為美國人民增進福祉。
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2022年第二季度財務概述
2022年第二季度總收入為2.543億美元，環比增長4.8%，較上年同期的2.219億美元增長14.6%。收入增長的主要原因是新澤西州的零售額增加，反映了成人用大麻合法化；伊利諾伊州的零售額增加；與去年第二季度相比增加了19個零售點，以及該公司77家開業和運營的零售店的客流量增加。
綠拇指所有15個州市場對第二季度收入的貢獻：加利福尼亞州、科羅拉多州、康涅狄格州、佛羅裏達州、伊利諾伊州、馬裏蘭州、馬薩諸塞州、明尼蘇達州、內華達州、新澤西州、紐約、俄亥俄州、賓夕法尼亞州、羅德島州和弗吉尼亞州。該公司繼續投資，以擴大其整個足跡的種植和製造能力。
2022年第二季度的毛利潤為1.258億美元，佔收入的49.5%，而去年同期為1.229億美元，佔收入的55.4%。毛利表現受到公司零售業務銷售額增加、新店開張、新澤西州成人用品銷售以及伊利諾伊州市場持續增長的推動。
第二季度的銷售、一般和行政費用總額為6,350萬美元，佔收入的25.0%，而2021年第二季度為7,210萬美元，佔收入的32.5%。總支出的減少主要反映了與購置有關的或有負債的非現金減少。
2022年第二季度，公司應佔淨收益為2440萬美元，或每股基本收益0.11美元，每股攤薄收益0.10美元，而去年同期的淨收益為2210萬美元，或每股基本收益和稀釋後收益0.10美元。
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Benzinga Cannabis首都會議上的園藝拇指
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為什麼不來見見綠拇指？温迪·伯傑董事會成員，他將在9月9日的本辛加大麻資本會議上發表主旨演講。在芝加哥13勝14負？
在這裏獲得您的會議門票，並在這裏預訂您的房間，與我們一起入住歷史悠久的帕爾默之家。
譯文內容由第三人軟體翻譯。