Curaleaf Earnings Estimates Lowered

LOS ANGELES- Analysts at Atb Cap Markets have revised their Q2 2024 earnings estimates for Curaleaf Holdings, Inc. now forecasting a loss of $0.04 per share, down from a previous estimate of $0.03 per share. This adjustment follows the company’s reported Q1 2024 earnings of $0.07 per share, which missed the consensus estimate of $0.06. For the full fiscal year 2024, analysts expect Curaleaf to post a loss of $0.20 per share, with further losses of $0.16 and $0.12 per share anticipated for FY2024 and FY2025, respectively.

Curaleaf’s financial results for Q1 2024 showed a negative return on equity of 14.43% and a negative net margin of 20.29%, with revenues of $338.93 million falling short of the $341.25 million analyst expectation. Despite these challenges, Needham & Company LLC recently increased their price target for Curaleaf from $5.25 to $6.25, maintaining a “buy” rating for the stock.

As of Friday, Curaleaf’s shares traded at $3.97, with a market capitalization of $2.57 billion. The company’s stock has experienced fluctuations, with a 12-month low of $2.51 and a high of $6.40. The company’s financial stability is highlighted by a quick ratio of 0.36, a current ratio of 0.72, and a debt-to-equity ratio of 0.74.

Curaleaf Holdings operates as a cannabis operator in the United States, offering a range of products including flowers, pre-rolls, vaporizer cartridges, and various concentrates and edibles. The company is divided into Domestic and International Operations segments, with a diverse portfolio catering to both recreational and medical cannabis markets.