Canopy Growth reports Q2 EPS (C$1.08) vs. (C$1.52) last year
Reports Q2 revenue C$76.6M vs. C$23.33M last year. The company sold 10,913 kilograms and kilogram equivalents of cannabis products during Q2, an increase of 3% from the previous quarter. Total gross revenue for Q2, before portfolio restructuring costs, was $118.3M. "The last two quarters have been challenging for the Canadian cannabis sector as provinces have reduced purchases to lower inventory levels, retail store openings have fallen short of expectations, and Cannabis 2.0 products are yet to come to market," said Mark Zekulin, CEO, Canopy Growth. "However, we believe these conditions are a short-term headwind in what is a brand-new industry, and Canopy continues to be best positioned with cash-on-hand, a world-class infrastructure, and a portfolio of intellectual property to deliver sustained, long-term market leadership."