Heading into Aurora Cannabis’ (ACB) March quarter earnings (F3Q), with conditions known to be rough in the Canadian cannabis market, Needham’s Matt McGinley had “low expectations.” The analyst did not anticipate the company would show any “operating and cash flow improvements” in the quarter. However, turns out McGinley was being a tad optimistic. “This quarter was quite a bit worse than we assumed, with revenue (18.5)% QoQ, adj. EBITDA declining to $(24.0)mn or (44%) of sales, and $(70mn) in FCF losses,” the 5-star analyst said.
https://www.tipranks.com/news/article/aurora-cannabis-the-light-keeps-on-fading-into-the-distance
Aurora Cannabis (NASDAQ:ACB)
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