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.
绿拇指工业公司。(CSE：GTII)(场外交易市场代码：GTBIF)公布了截至2022年6月30日的第二季度财务业绩。
Highlights for the second quarter and six months ended June 30, 2022:
截至2022年6月30日的第二季度和六个月的要点：
- 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.
- 营收环比增长4.8%，同比增长14.6%，至2.543亿美元。
- 与2021年上半年相比，2022年上半年的收入增长了19.4%，达到4.969亿美元。
- GAAP净收入连续第八个季度为正，基本收益为2440万美元，基本收益为0.11美元，稀释后每股收益为0.10美元。
- 调整后的营业EBITDA环比增长17.4%，至7870万美元，占收入的31.0%。今年迄今的运营现金流为3990万美元。
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尽管面临宏观和消费者的逆风，我们的团队仍在继续执行和建立势头。美国大麻的复杂性使我们每天都更努力、更聪明地工作，为我们所有的利益相关者创造长期价值。本·科夫勒，Green拇指创始人、董事长兼首席执行官。我们对我们的战略充满信心，我们相信我们的品牌，我们致力于通过大麻的力量为美国人民增进福祉。
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2022年第二季度财务概述
2022年第二季度总收入为2.543亿美元，环比增长4.8%，较上年同期的2.219亿美元增长14.6%。收入增长的主要原因是新泽西州的零售额增加，反映了成人用大麻合法化；伊利诺伊州的零售额增加；与去年第二季度相比增加了19个零售点，以及该公司77家开业和运营的零售店的客流量增加。
绿拇指所有15个州市场对第二季度收入的贡献：加利福尼亚州、科罗拉多州、康涅狄格州、佛罗里达州、伊利诺伊州、马里兰州、马萨诸塞州、明尼苏达州、内华达州、新泽西州、纽约、俄亥俄州、宾夕法尼亚州、罗德岛州和弗吉尼亚州。该公司继续投资，以扩大其整个足迹的种植和制造能力。
2022年第二季度的毛利润为1.258亿美元，占收入的49.5%，而去年同期为1.229亿美元，占收入的55.4%。毛利表现受到公司零售业务销售额增加、新店开张、新泽西州成人用品销售以及伊利诺伊州市场持续增长的推动。
第二季度的销售、一般和行政费用总额为6,350万美元，占收入的25.0%，而2021年第二季度为7,210万美元，占收入的32.5%。总支出的减少主要反映了与购置有关的或有负债的非现金减少。
2022年第二季度，公司应占净收益为2440万美元，或每股基本收益0.11美元，每股摊薄收益0.10美元，而去年同期的净收益为2210万美元，或每股基本收益和稀释后收益0.10美元。
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Benzinga Cannabis首都会议上的园艺拇指
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为什么不来见见绿拇指？温迪·伯杰董事会成员，他将在9月9日的本辛加大麻资本会议上发表主旨演讲。在芝加哥13胜14负？
在这里获得您的会议门票，并在这里预订您的房间，与我们一起入住历史悠久的帕尔默之家。
译文内容由第三方软件翻译。