Cresco Labs CEO Touts 10x Increase In Operating Cash Flow YoY As Cannabis Company Reports Q1 Results
Cresco Labs CEO Touts 10x Increase In Operating Cash Flow YoY As Cannabis Company Reports Q1 Results
Cannabis producer Cresco Labs Inc. (CSE:CL) (OTCQX:CRLBF) (FSE: 6CQ) announced on Wednesday its financial and operating results for the first quarter ended March 31, 2024.
大麻生產商Cresco Labs Inc.（CSE: CL）（場外交易代碼：CRLBF）（FSE：6CQ）週三公佈了截至2024年3月31日的第一季度財務和經營業績。
"I want to thank the Cresco team for taking our learnings from the Year-of-the-Core, making them a part of our DNA and producing such a strong start to 2024," said Charles Bachtell, CEO of Cresco Labs. "The continued development of our teams' capabilities and our relentless focus on efficient execution is leading to very strong performance across our retail and branded product business resulting in a 10x increase in operating cash flow year-over-year."
Cresco Labs首席執行官查爾斯·巴赫特爾表示：“我要感謝Cresco團隊吸取了我們從核心年中吸取的經驗教訓，使它們成爲我們的DNA的一部分，併爲2024年創造瞭如此良好的開端。”“我們團隊能力的持續發展以及我們對高效執行的不懈關注，使我們的零售和品牌產品業務表現非常強勁，運營現金流同比增長了10倍。”
Q1 2024 Financial Highlights
2024 年第一季度財務摘要
- Revenue totaled $184 million and was flat year-over-year, excluding the impact of strategic divestitures aimed to drive profitability.
- Gross profit amounted to $92 million.
- Adjusted gross profit of $95 million was up 7% year-over-year.
- Adjusted gross margin of 51% of revenue, representing a 580 bps improvement.
- Selling, general and administrative expenses totaled $54 million.
- Reduced adjusted selling, general and administrative expenses by 24% year-over-year to $52 million, or 28% of revenue.
- Income before income taxes totaled $16 million, a net loss of $2 million.
- Adjusted EBITDA came in negative at $53 million, up 82% year-over-year.
- Adjusted EBITDA margin was 29%, representing a 1,380 bps improvement.
- $36 million in operating cash flow up 1,000% year-over-year. $33 million in free cash flow.
- 總收入爲1.84億美元，同比持平，其中不包括旨在提高盈利能力的戰略剝離的影響。
- 毛利潤爲9200萬美元。
- 調整後的毛利潤爲9500萬美元，同比增長7％。
- 調整後的毛利率爲收入的51％，增長了580個點子。
- 銷售、一般和管理費用共計5400萬美元。
- 調整後的銷售、一般和管理費用同比減少24％，至5200萬美元，佔收入的28％。
- 所得稅前收入總額爲1600萬美元，淨虧損200萬美元。
- 調整後的息稅折舊攤銷前利潤爲負5,300萬美元，同比增長82％。
- 調整後的息稅折舊攤銷前利潤率爲29％，增長了1380個點子。
- 3,600萬美元的運營現金流同比增長1,000％。自由現金流爲3,300萬美元。
Cresco also noted that it has retained a No.1 share position in Illinois, Pennsylvania and Massachusetts.
Cresco還指出，它在伊利諾伊州、賓夕法尼亞州和馬薩諸塞州保持了第一的股份。
Bachtell added that Cresco is "fulfilling our vision of being the most important company in cannabis and leading the development of the most responsible, respectable and robust industry possible."
巴赫特爾補充說，Cresco “正在實現我們的願景，即成爲大麻領域最重要的公司，並引領最負責任、最受尊敬和最強大的行業的發展。”
He praised the recently announced potential federal rescheduling of cannabis. At the Benzinga Cannabis Capital Conference in Florida last month, Bachtell shared optimistic views on cannabis rescheduling, emphasizing the importance of the process it's undergoing.
他讚揚了最近宣佈的聯邦政府可能重新安排大麻的期限。上個月在佛羅里達州舉行的Benzinga大麻資本會議上，巴赫特爾對大麻改期發表了樂觀的看法，強調了大麻改期的重要性。
"This is going through the process it needs to... it's a matter of when," Bachtell said at the time.
巴赫特爾當時說：“這正在經歷所需的過程... 這是何時的問題。”
The 19th Benzinga Cannabis Capital Conference is returning to Chicago this Oct. 8-9. Get your tickets now before prices surge by following this link.
第19屆Benzinga大麻資本會議將於10月8日至9日重返芝加哥。點擊此鏈接，立即在價格飆升之前獲取門票。
CRLBF Price Action
CRLBF 價格走勢
Cresco's shares traded 0.50% higher at $2.02 per share after the market close on Tuesday.
週二收盤後，Cresco的股價上漲0.50％，至每股2.02美元。
譯文內容由第三人軟體翻譯。