fbpx
QQQ
+ 0.67
340.58
+ 0.19%
DIA
-1.56
346.68
-0.45%
SPY
-0.54
424.85
-0.13%
TLT
-0.74
143.05
-0.52%
GLD
-1.09
176.83
-0.62%

Aurora Cannabis To Report Late As Analyst Notes 'Structural' Hurdles

May 13, 2021 2:34 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Aurora Cannabis To Report Late As Analyst Notes 'Structural' Hurdles

Aurora Cannabis Inc (NYSE:ACB) expects to deliver its Q3 earnings reports after today's close.

The report comes as fellow Canadian cannabis giants Cronos Group Inc (NASDAQ:CRON) and Aphria recently missed their expected quarterly projections.

Underperforming Figures Expected

Aurora expects to be the latest Canadian cannabis company to report a loss for the quarter.

Zacks Equity Research anticipates Aurora's bottom line losing 17 cents per share, suggesting a .1% revenue reduction from the same period the previous year.

Zacks lists several factors of consideration for Aurora, including:

  • Essential service status in Canada and Europe likely benefited Q3 performance
  • Low cost per unit production may have helped the company by creating a brand that spans multiple price tiers
  • Q3 should produce favorable results in the company's domestic and international medical markets, as the momentum gained during the period and company investments continued.

The analyst firm also highlighted Aurora's supply agreements to offer various products to consumers in Canada and elsewhere. In January, Aurora struck deals with Great North Distributors and MedReleaf Australia.

However, the pandemic will likely continue to be a factor in business, with provinces instituting stricter COVID-19 regulations in the past month.

Alberta, home to Aurora HQ, introduced tighter restrictions in early May, targeting workplaces, restaurants and other public gathering areas. Regulations expect to run through the month-end holiday.

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to our YouTube channel.


Related Articles

Cannabis Stock Gainers And Losers From June 10, 2021

GAINERS: Cipher Pharms Inc (OTC: CPHRF) shares closed up 15,8% at $1,33 read more

Cannabis Stock Gainers And Losers From June 7, 2021

GAINERS: Marrone Bio Innovations (NASDAQ: MBII) shares closed up 13.33% at $1.53 read more

Cannabis Stock Gainers And Losers From June 4, 2021

GAINERS: Claritas Pharmaceuticals (OTC: KALTF) shares closed up 13.84% at $0.03 read more

The Week In Cannabis: Amazon, Canopy's Earnings, Africa's Largest Co., Drake, Ashley Benson And More

Another busy week in cannabis saw the stock market post generalized losses, as Amazon.com Inc. (NASDAQ: AMZN) came out in support of the federal legalization of marijuana, announcing it will drop marijuana testing requirements for some of its workers. read more