Cresco Labs (CRLBF) to Release Earnings on Friday

Cresco Labs (OTCMKTS:CRLBF) will likely be releasing its results before the market opens on Friday, May 8th. Analysts expect Cresco Labs to post earnings of ($0.03) per share and revenue of $148.5810 million for the quarter.

Cresco Labs (OTCMKTS:CRLBF) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). Cresco Labs had a negative return on equity of 16.61% and a negative net margin of 20.65%.The business had revenue of $164.04 million for the quarter, compared to the consensus estimate of $160.87 million. On average, analysts expect Cresco Labs to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Cresco Labs Stock Down 2.2%

CRLBF stock traded down $0.02 during midday trading on Wednesday, reaching $1.07. The company had a trading volume of 241,177 shares, compared to its average volume of 923,009. The company has a current ratio of 2.59, a quick ratio of 1.60 and a debt-to-equity ratio of 1.72. Cresco Labs has a 1 year low of $0.43 and a 1 year high of $2.30. The company has a 50 day moving average of $0.97 and a two-hundred day moving average of $1.06. The company has a market capitalization of $537.95 million, a P/E ratio of -2.74 and a beta of 1.59.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Cresco Labs from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy”.

Cresco Labs Company Profile

Cresco Labs is a vertically integrated, multi-state cannabis operator in the United States. The company engages in the cultivation, manufacturing and distribution of a broad range of cannabis products, including flower, pre-rolled joints, concentrates, vaporizers, edibles and tinctures. Cresco Labs’ operations span cultivation facilities, processing laboratories and a network of wholesale distribution centers that supply licensed dispensaries and retail outlets across key cannabis markets.

The company’s product portfolio is organized under several branded platforms, such as MÜV, Reserve and High Supply, each designed to address different segments of the adult-use and medical cannabis markets.