STOCKS TELEGRAPH

Tag: hemp

  • Tilray Inc. (TLRY) Stock Surges Following Announcement of Promising Financial Reports for Fiscal Q4 2021

    Tilray Inc. (TLRY) stock prices were up 22.47% as of the market opening on July 28th, 2021, bringing the price per share up to USD$15.69 early on in the trading day.

    Net Revenue Breakdown

    Net revenue for the fourth quarter of fiscal 2021 was reported at USD$142.2 million, up 25% from the USD$113.5 million reported for the prior year quarter. The increase was largely driven by a 36% increase in net cannabis revenue, which was reported at USD$53.7 million. This included a four wee contribution from legacy-Tilray, a 10% decline in distribution revenue, and a net beverage alcohol revenue of USD$15.9 million as a result of TLRY stock’s acquisition of SweetWater on November 25th 2020. Also contributing to the year-over-year increase was wellness revenue in the amount of USD$5.8 million from Manitoba Harvest.

    Income and Adjusted EBITDA

    Net income for the 2021 quarter came in at USD$33.6 million, a massive improvement from the net loss of USD$84.3 million reported in the prior year quarter. Adjusted EBITDA was up to USD$12.3 million during the fourth quarter of 2021, representing a massive 285% increase from the USD$3.2 million reported in the prior-year quarter. This marks the ninth consecutive quarter of positive Adjusted EBITDA.

    TLRY Stock’s Gross Profits

    Gross Profits were down to USD$22.5 million for the quarter, a 19% decrease from the USD$27.8 million reported in the prior-year quarter. Gross profits for the quarter included a one-time inventory valuation adjustment of USD$19.9 million, derived from excess inventory quantities as of the business combination with Aphria. Adjusted gross profit was reported at USD$42.4 million, a 53% increase from the USD$27.8 million reported for Q4 2020.

    Ongoing Cost Synergies

    TLRY stock anticipates facilitating significant cost synergies amounting to a total of USD$80 million within eighteen months of closing its business combination with Aphria Tilray. These cost synergies are forecasted to be focused in the key areas of cultivation and production, cannabis and product purchasing, sales, and marketing, as well as corporate expenses. So far, the company has achieved USD$35 million in synergies.

    Future Outlook for TLRY

    Armed with the success of its most recent financial reports for the last quarter of fiscal 2021, TLRY is poised to continue its trajectory of success into the new year. Current and potential investors are hopeful that management will be able to leverage the resources at its disposal to facilitate significant and sustained increases in shareholder value.

  • Grove Inc. (GRVI) Stock Surges Following Announcement of Successful Fiscal 2021 Financial Reports

    Grove Inc. (GRVI) stock prices were up 35.54% as of the market opening on July 28th 2021, bringing the price per share up to USD$6.30 early on in the trading day.

    Revenue and Net Income Reports

    July 28th 2021 saw GRVI stock, the Nevada based company that is revolutionizing the hemp industry, report preliminary and unaudited financial results for the fourth quarter of fiscal 2021, ended June 30th 2021. The company reported revenues ranging from USD$10.1 million to USD$10.4 million, representing a massive 300% increases over the numbers reported for the prior year quarter. Net income is expected to range from USD$1.5 million to USD$2 million, up from a net loss of more than USD$700,000 in the fourth quarter of fiscal 2020.

    2021 Full Year Report

    GRVI stock reported expecting full year revenues for the full fiscal year in the amount of USD$23.6 million to USD$23.9 million, a substantial 200% increase over the USD$7.4 million reported for the fiscal year 2020. Net income for the 2021 year is expected to range from USD$2 million to USD$2.5 million, up from a considerable net loss of USD$5 million for the fiscal year 2020. Full financial results for the fiscal year 2021 are expected around September 15th 2021.

    GRVI Stock Exceeding Expectations

    The company is pleased to announce having exceeded all of its internal projections for growth and profitability over the course of 2021 so far. Driven by a combination of a stellar workforce and an effectively executed business strategy, the company continued to expand the scope of its growth while sustaining profitability.

    GRVI Stock Planning to Reinvest

    The company is keen to enter the fiscal year 2022 riding the momentum generated over the fiscal year 2021. The current years financial success afford the company flexibility in investing to further consolidate and enhance internal growth. A solid balance sheet and continued positive cash flow from operations will see the company invest heavily in facilitating the growth of GRVI stock’s Products and Manufacturing. Investments are also expected to be made in an Extraction and Lab Facility to pioneer the R&D in the Hemp and Wellness industries.

    Future Outlook for GRVI

    Armed with the immense success of its preliminary and unaudited financial reports for the fiscal year 2021, GRVI stock is poised to capitalize on its momentum. The company is keen to continue its trajectory of success into the new fiscal year, hoping to drive additional growth. Investors are hopeful that management will continue to execute its strategy so as to usher in further gains in shareholder value.