Cresco Labs (OTCMKTS:CRLBF) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Cresco Labs (OTCMKTS:CRLBF - Get Free Report) released its quarterly earnings results on Friday. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.01), Zacks reports. Cresco Labs had a negative net margin of 9.15% and a negative return on equity of 16.52%. The firm had revenue of $165.76 million for the quarter, compared to the consensus estimate of $164.37 million.

Cresco Labs Stock Performance

CRLBF stock traded down $0.02 during mid-day trading on Tuesday, hitting $0.57. The company had a trading volume of 309,684 shares, compared to its average volume of 636,869. The firm has a market cap of $277.42 million, a PE ratio of -2.83 and a beta of 1.73. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.39 and a current ratio of 1.97. Cresco Labs has a 12 month low of $0.52 and a 12 month high of $2.05. The stock's fifty day moving average price is $0.70 and its two-hundred day moving average price is $0.85.

Analyst Upgrades and Downgrades

Separately, Cormark raised shares of Cresco Labs from a "hold" rating to a "moderate buy" rating in a research report on Monday, March 17th. Two analysts have rated the stock with a hold rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy".

Cresco Labs Company Profile

Cresco Labs Inc, together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. It provides cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand; vape carts, vape pens, flower, popcorn, shake, pre-rolls, shorties, and concentrates under the High Supply brand; vapes and gummies under the Good News brand; vapes and edibles under the Wonder Wellness Co brand; and tinctures, capsules, salves, and sublingual oils under the Remedi brand.