Cresco Labs (OTCMKTS:CRLBF) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Cresco Labs (OTCMKTS:CRLBF) released its quarterly earnings data on Thursday. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06, Zacks reports. Cresco Labs had a negative return on equity of 7.42% and a negative net margin of 15.50%.The company had revenue of $173.34 million for the quarter, compared to analyst estimates of $166.20 million.

Cresco Labs Price Performance

Shares of OTCMKTS:CRLBF traded up $0.03 on Friday, hitting $0.75. The company’s stock had a trading volume of 322,616 shares, compared to its average volume of 424,438. Cresco Labs has a 1 year low of $0.59 and a 1 year high of $2.30. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.51 and a quick ratio of 1.41. The company has a market capitalization of $374.76 million, a PE ratio of -2.48 and a beta of 1.54. The company has a 50-day simple moving average of $0.78 and a 200 day simple moving average of $0.92.

Analysts Set New Price Targets

Separately, Alliance Global Partners reiterated a “buy” rating on shares of Cresco Labs in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus 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.