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Cannabis Company Cresco Labs Swings To A Profit While Revenue Beats Estimates -- MarketWatch

MarketWatch·03/13/2024 11:59:00
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Cresco Labs Inc. (CRLBF) said Wednesday it swung to a fourth-quarter profit on stronger-than-expected revenue. The Chicago-based cannabis seller said it earned $4.87 million in the three months ended Dec. 31. The company did not provide a figure for earnings per share. The FactSet consensus estimate was for a loss of 2 cents a share. In the year-ago quarter, Cresco Labs reported a loss of $180.62 million. Fourth-quarter revenue fell to $188.24 million from $199.58 million, in the year-ago quarter. Cresco Labs beat the analyst estimate for revenue of $181.7 million. Cresco Labs stock has risen 15.1% in 2024, compared to a 5.9% increase by the AdvisorShares Pure U.S. Cannabis ETF. (MSOS).

-Steve Gelsi

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March 13, 2024 07:59 ET (11:59 GMT)

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