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

Key Points

• Cresco Labs reported quarterly earnings of -$0.04 per share, missing analyst expectations of -$0.03 by $0.01.
• The company continues to show weak profitability, with a negative net margin of 20.65% and a negative return on equity of 16.61%.
• Shares fell to $1.03 on Friday amid heavy trading, while analysts’ sentiment remains mixed but leans Buy overall.

Cresco Labs (OTCMKTS:CRLBF - Get Free Report) announced its earnings results on Friday. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.01), Zacks reports. Cresco Labs had a negative net margin of 20.65% and a negative return on equity of 16.61%.

Cresco Labs Stock Performance

OTCMKTS:CRLBF traded down $0.07 during midday trading on Friday, reaching $1.03. The stock had a trading volume of 1,725,173 shares, compared to its average volume of 936,485. The stock has a market cap of $517.84 million, a P/E ratio of -2.64 and a beta of 1.59. Cresco Labs has a 12-month low of $0.43 and a 12-month high of $2.30. The firm has a fifty day simple moving average of $0.98 and a two-hundred day simple moving average of $1.06. The company has a quick ratio of 1.60, a current ratio of 2.59 and a debt-to-equity ratio of 1.72.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Cresco Labs from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average 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.

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