قالب وردپرس درنا توس
Home / Business / Marijuana Stocks: Aurora Cannabis Sales Strong, Losses Deepen

Marijuana Stocks: Aurora Cannabis Sales Strong, Losses Deepen



The Canadian producer of marijuana Aurora Cannabis (ACB) reported second-quarter fiscal sales that arrived at the top of a previous forecast, even though the company's losses increased. The actions of Cannabis Aurora and other marijuana stocks were mostly lower after Monday's closure




X



The company's results come as investors seek further information on how the major Canadian companies are sailing in the nascent recreational market of the nation. Major Canadian producers are losing money as they seek to expand to other nations and increase their production capacity. The shortcomings in the provision of recreational grass by the nation have forced some dispensaries to close until they are able to refuel.

Aurora led to higher financial results in the previous months, partly thanks to large acquisitions and investments. The company's second fiscal quarter includes the three months ended December 31st. Sales of legal recreational marijuana in Canada started on October 17th.

Analyst Canaccord Genuity Matt Bottomley said the results of Aurora and Canopy Growth (CGC), which reports Thursday, would give investors their "first real glimpse" of the sales potential of largest authorized herbal growers in the nation.

Aurora Cannabis Earnings

Aurora Cannabis reported net sales of $ 54.178 million, up 83% from the previous quarter and a 363% jump over the period of one year ago. These results are compared to last month's company forecasts for net sales of $ 50 million to $ 55 million. At that time, the forecasts were not at the height of some estimates

. Aurora attributed the sales gains to a solid demand in the Canadian recreational market. The company sold 21.6 million Canadian weed of weeds during the quarter. Aurora said that its products account for around a fifth of Canada's recreational sales during the quarter.

"The Company expects that the launch of new lines of derivatives, once permitted by Health Canada regulations, will help improve margins," he said in a version. Products such as vaping and edibles, which have become more popular, will not be available until the end of this year.

Medical sales in Canada and internationally reached $ 26 million. The company said it expects to have about 25,000 kilograms of marijuana products sold in the quarter ending in June.

Hit Margins Costs

However, the loss of the company attributable to the common shareholders has increased to $ 237.8 million in Canadian dollars. Aurora said gross margins on "temporarily" cannabis sales fell 54% during the quarter, from 70% in the first fiscal quarter.

The company attributed the decline in margin to a lower average selling price, excise duty on sales and a lower sales mix of cannabis oil. Products with cannabis oil tend to have a higher margin.

Packaging regulations and the costs of bringing its massive Aurora Sky structure to full production have also cut margins. The company said the structure is completely complete and will reach full "short" production capacity.

The company said the cash cost to make one ounce of dry rose rose temporarily to 1.92 Canadian dollars, from 1.45 in the previous quarter. Sales, general and administrative costs maintained at the same levels as the previous quarter. Aurora said these costs will diminish once Aurora Sky's production plant runs at full capacity.

Aurora said that she produced 7,822 kilograms of cannabis during the quarter and sold 6,999, which brings her growing home space into the network. [19659006] Aurora cannabis stock, other marijuana stocks

Cannabis Aurora shares have lost 1.1% on the stock today. The company has a composite score of 97 out of a better 99 possible. This is the strongest demonstration of Canadian marijuana stocks listed in the United States.

Aurora Cannabis stock has a strong relative resistance value of 91. The score measures the performance of a stock over the last 12 months.

Among other marijuana stocks, Canopy Growth (CGC), which reports Thursday's gains, was flat after the closing bell. Cronos Group (CGC) slipped 1.2%. Cronos has an 85 Composite Rating.

Tilray (TLRY) was flat. Aprhia (APHA) decreased by 0.4%.

Next Episode Of The Marijuana Industry & # 39; Sh * tshow & # 39;

Aurora Cannabis announced in November that it has invested in a "significant number" of marketing efforts to raise awareness for its recreational products. The results of the GMP Securities survey in October indicated that few people were aware of the different products offered by the Canadian pot manufacturers.

Total legal sales of dried shoots in December have increased 4% since November, according to Canadian government data released last month. Sales of cannabis oil increased by 2% during that period. The Canadian statistics also indicated that the cannabis use rate did not change after legalization.

Aurora Terry Booth's managing director, in a November conference, said that the Canadian legal leisure market will likely remain a "sh * tshow". And he said that Ontario, Canada's most populous province, managed the rollout in the worst way. Industry executives expect deficiencies to last at least this year

. Ontario began its recreational sales through a government-run online store. The province has recently distributed the top 25 retail licenses through a lottery system.

The executives of Aurora and other Canadian producers have said that the broader, long-term opportunity lies in the sale of medical marijuana to other nations that have legalized it. [19659004] Aurora announced Monday that it had made its first commercial export of cannabis oil to the United Kingdom. The company claimed that the product "has been successfully dispensed from a pharmacy."

COULD BE INTERESTED IN: [19659004] Marijuana actions to keep watch while buying cannabis

Operator of the large shopping center, offers cannabis for the strike Barneys in New York; Marijuana Stocks Fall

Marijuana Stocks To Buy And To Watch

Marijuana Stocks In 2019: Time To Separate & # 39; Winners From The Sinners & # 39;


Source link