Cresco Labs (CRLBF) Set to Post Earnings on Friday

Key Points

• Cresco Labs is expected to report earnings before the market opens on Friday, November 6. Analysts forecast a loss of $0.02 per share and revenue of approximately $173.66 million.
• In its previous quarter, Cresco Labs reported EPS of $0.04, beating estimates by $0.06, while revenue of $173.34 million also exceeded expectations.
• Shares recently traded at $0.63, near their one-year low, but analysts remain bullish: two rate the stock “Strong Buy” and one rates it “Buy.”

Cresco Labs (OTCMKTS:CRLBF - Get Free Report) will likely be issuing its results before the market opens on Friday, November 6th. Analysts expect the company to announce earnings of ($0.02) per share and revenue of $173.66 million for the quarter.

Cresco Labs (OTCMKTS:CRLBF - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.06. Cresco Labs had a negative net margin of 15.50% and a negative return on equity of 7.53%. The company had revenue of $173.34 million during the quarter, compared to analysts' expectations of $166.20 million. On average, analysts expect Cresco Labs to post ($0.04) EPS for the current fiscal year and ($0.02) EPS for the next fiscal year.

Cresco Labs Stock Up 2.8%

Shares of CRLBF opened at $0.63 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.78 and a quick ratio of 0.98. The firm has a 50 day simple moving average of $0.70 and a 200-day simple moving average of $0.87. Cresco Labs has a 1-year low of $0.55 and a 1-year high of $2.30.

Wall Street Analysts Forecast Growth

CRLBF has been the topic of a number of analyst reports. Alliance Global Partners reiterated a "buy" rating on shares of Cresco Labs in a report on Thursday, August 6th. Zacks Research raised Cresco Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Strong Buy".

About Cresco Labs

Cresco Labs Inc is a Chicago-based cannabis company that cultivates, manufactures and distributes cannabis products in the United States. Founded in 2013, the company operates as a multistate cannabis operator, serving regulated markets through a combination of wholesale operations and retail dispensaries.

The company's product portfolio includes flower, pre-rolls, vape products, concentrates, edibles and other cannabis-related goods. Its principal brands have included Cresco, High Supply, Good News, Wonder Wellness, FloraCal Farms and Mindy's Edibles.

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