Producer of Canadian Marijuana Aurora Cannabis (ACB), reported as second-quarter sales, even as the company's losses ballooned. Aurora Cannabis
Aurora Cannabis Earnings
Estimates: No ratings were available from Zacks Investment Research. Last month, 50 million to 55 million Canadian dollars. The forecast fell short of some estimates.
Results: The company reported net sales of 54.178 million Canadian dollars, up 83% from the prior quarter and a 363% jump from the period a year ago.
The Canadian Dollars' Canadian Dollar. The company sold 21.6 million Canadian dollars of recreational weed during the quarter.
"The Company anticipates that new derivative product lines, once allowed under Health Canada regulations,"
Medical sales in Canada and internationally came at 26 million Canadian dollars.
Costs Hit Margins
However, Aurora said that the margins on cannabis sales are in the middle of the quarter. %, from 70% in its fiscal first quarter.
Packaging regulations and costs related to its massive Aurora Sky facility to full-scale production.
The company got cash cost to make a gram of dried buds at 1.92 in the prior quarter. Sales, general and administrative costs held at the same levels as the prior quarter.
Aurora said it would be the only time it would take for the Aurora Sky
Aurora said it produced full capacity
Aurora said it produced 7,822 kilograms of cannabis. ] Aurora Cannabis Stock, Other Marijuana Stocks
Aurora Cannabis stock lost 1.1% in the stock market today.
Aurora Cannabis stock has a strong Relative Strength Rating of 91. The company has a Composite Rating of 97.
over the past 12 months.
Among other marijuana stocks, Canopy Growth (CGC), which reports earnings on Thursday. Cronos Group (CGC) slipped 1.2%. Cronos has an 85 Composite Rating
Tilray (TLRY) was flat. Aprhia (APHA) dipped 0.4%.
The Glance At The Recreational Cannabis Market
Aurora has driven financial results. The three months ended Dec. 31. Legal recreational marijuana sales in Canada started on Oct. 17.
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Investors in recent months have raised questions about Aurora and Canopy. that potential. Canada's biggest producers are losing money as they try to expand their production capacity. Shortage of the nation's supply of recreational weed have forced some dispensaries to close until they can get more supply.
Aurora Cannabis in November has been invested in a number of products. .
Total legal sales of dry buds in December rose 4% from November, according to Canadian government data released last month. Sales of cannabis oil rose 2% over that time.
Next Episode Of The Marijuana Industry 'Sh * tshow'
Aurora CEO Terry Booth, at a conference in November, received Canada's legal recreational market would likely remain a "sh * tshow." And they got ontario, Canada's most populous province, handled the rollout the worst.
Ontario is a government-run store.
The province recently handed out the first 25 physical-retail licenses via a lottery system. 19659006] Aurora on Monday said it was made its first commercial export of cannabis oil to the UK YOU MIGHT BE INTERESTED IN:
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