Trulieve Cannabis (NYSE:TRLV) Announces Quarterly Earnings Results

Trulieve Cannabis (NYSE:TRLV) announced its quarterly earnings results on Friday. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05, Zacks reports.

Here are the key takeaways from Trulieve Cannabis’ conference call:

• Core profitability and cash flow remained strong: Medical-only revenue rose 4% sequentially to $222 million, with a 63% gross margin and $98 million of adjusted EBITDA at a 36% margin. Operating cash flow was $53 million, while quarter-end cash totaled $325 million versus $289 million of debt.
• Georgia is emerging as a significant growth driver: Expanded qualifying conditions and product formats drove a sharp increase in traffic, while patient enrollment surpassed 45,000. Trulieve is expanding cultivation, adding dispensaries, and supplying nearly 20 independent pharmacies, although temporary flower shortages constrained sales.
• Texas offers substantial expansion potential: Trulieve is converting its conditional license to final approval and has completed initial production construction. Management sees considerable upside as the program expands beyond 157,000 patients, with plans to scale production and retail locations alongside demand.
• Reported results and full-year cash-flow guidance were affected by the Harvest deconsolidation: The company posted a $406 million GAAP net loss, including a $407 million impact from the transaction, although adjusted results would have shown $20 million of net income. Full-year operating cash-flow guidance was reduced to at least $225 million, while capital-expenditure guidance increased to $95 million as Trulieve invests in growth.

Trulieve Cannabis Stock Down 2.7%

Shares of NYSE:TRLV traded down $0.24 during midday trading on Friday, hitting $8.76. The company’s stock had a trading volume of 1,039,210 shares, compared to its average volume of 811,495. Trulieve Cannabis has a fifty-two week low of $4.62 and a fifty-two week high of $13.28.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TRLV. Zacks Research raised Trulieve Cannabis to a “hold” rating in a research note on Thursday, June 18th. Weiss Ratings assumed coverage on Trulieve Cannabis in a report on Tuesday, June 16th. They set a “sell (d-)” rating on the stock. Wall Street Zen lowered shares of Trulieve Cannabis from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $15.00 price objective on shares of Trulieve Cannabis in a research note on Friday. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.00.

Insider Buying and Selling at Trulieve Cannabis

In related news, CEO Kim A. Rivers sold 400,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $8.17, for a total transaction of $3,268,000.00. Following the completion of the sale, the chief executive officer owned 1,913,724 shares in the company, valued at $15,635,125.08. This represents a 17.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,699,007 shares of company stock worth $14,661,355. 3.79% of the stock is currently owned by insiders.

About Trulieve Cannabis

Trulieve Cannabis Corp. is a vertically integrated cannabis company focused on the cultivation, processing, and retail sale of medical and adult-use cannabis products. The company offers a range of products that may include flower, pre-rolls, concentrates, edibles, vape products, and topicals through its dispensary network and branded product portfolio.

Trulieve’s operations have been centered primarily in the United States, with a strong presence in Florida and additional markets in other states where cannabis is legally regulated.