Cresco Labs (OTCMKTS:CRLBF) Announces Quarterly Earnings Results

Cresco Labs (OTCMKTS:CRLBF) posted its quarterly earnings data on Friday. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01), Zacks reports. The firm had revenue of $151.33 million for the quarter, compared to analysts’ expectations of $148.58 million. Cresco Labs had a negative return on equity of 16.61% and a negative net margin of 20.65%.

Cresco Labs Price Performance

CRLBF stock opened at $1.03 on Friday. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.59 and a quick ratio of 1.60. The business has a 50 day simple moving average of $0.98 and a 200-day simple moving average of $1.06. The firm has a market capitalization of $517.84 million, a PE ratio of -2.64 and a beta of 1.59. Cresco Labs has a 1 year low of $0.43 and a 1 year high of $2.30.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Cresco Labs from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Cresco Labs Company Profile

Cresco Labs is a vertically integrated, multi-state cannabis operator in the United States. The company engages in the cultivation, manufacturing and distribution of a broad range of cannabis products, including flower, pre-rolled joints, concentrates, vaporizers, edibles and tinctures. Cresco Labs’ operations span cultivation facilities, processing laboratories and a network of wholesale distribution centers that supply licensed dispensaries and retail outlets across key cannabis markets.

The company’s product portfolio is organized under several branded platforms, such as MÜV, Reserve and High Supply, each designed to address different segments of the adult-use and medical cannabis markets.