Cresco Labs (OTCMKTS:CRLBF) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Cresco Labs (OTCMKTS:CRLBF) issued its quarterly earnings data on Friday. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02), Zacks reports. The firm had revenue of $165.00 million for the quarter, compared to analysts’ expectations of $163.74 million. Cresco Labs had a negative return on equity of 11.77% and a negative net margin of 6.67%.

Cresco Labs Trading Up 7.0%

CRLBF opened at $1.07 on Friday. Cresco Labs has a 12 month low of $0.43 and a 12 month high of $1.62. The stock has a fifty day moving average price of $1.21 and a 200-day moving average price of $0.89. The firm has a market cap of $380.85 million, a price-to-earnings ratio of -7.13 and a beta of 1.51. The company has a current ratio of 3.10, a quick ratio of 2.22 and a debt-to-equity ratio of 1.33.

Analyst Ratings Changes

Separately, Zacks Research downgraded Cresco Labs from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Cresco Labs Company Profile

Cresco Labs Inc, together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. It provides cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand; vape carts, vape pens, flower, popcorn, shake, pre-rolls, shorties, and concentrates under the High Supply brand; vapes and gummies under the Good News brand; vapes and edibles under the Wonder Wellness Co brand; and tinctures, capsules, salves, and sublingual oils under the Remedi brand.