TerrAscend (OTCMKTS:TSNDF) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Key Points

• TerrAscend reported quarterly EPS of ($0.03), missing analyst estimates by $0.01, though revenue came in slightly above expectations at $65.54 million.
• The company remains under pressure financially, with a negative net margin of 46.05% and a negative return on equity of 19.49%.
• Following the earnings release, TerrAscend’s stock fell to $0.70; meanwhile, Zacks Research upgraded the stock from “strong sell” to “hold”.

TerrAscend (OTCMKTS:TSNDF - Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01), Zacks reports. TerrAscend had a negative net margin of 46.05% and a negative return on equity of 19.49%. The firm had revenue of $65.54 million for the quarter, compared to the consensus estimate of $65.25 million.

TerrAscend Price Performance

OTCMKTS TSNDF traded down $0.04 during trading on Friday, reaching $0.70. 179,212 shares of the company traded hands, compared to its average volume of 640,437. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.95 and a current ratio of 1.38. The stock's 50 day moving average price is $0.67 and its two-hundred day moving average price is $0.68. The company has a market cap of $216.23 million, a price-to-earnings ratio of -1.71 and a beta of 1.42. TerrAscend has a 1-year low of $0.23 and a 1-year high of $1.45.

Analyst Ratings Changes

Separately, Zacks Research upgraded TerrAscend from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy".

TerrAscend Company Profile

TerrAscend is a vertically integrated cannabis company that operates across cultivation, processing and retailing in North America. The company's business model spans seed-to-sale activities, enabling it to manage quality control, production efficiency and product innovation from its growing facilities through to its distribution networks. TerrAscend serves both adult-use and medical cannabis markets, offering a full suite of cannabis derivatives including dried flower, concentrates, vapes, edibles, tinctures and topicals.

Geographically, TerrAscend maintains operations in key regulated markets.

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