Trulieve Cannabis Corp Fourth-Quarter Performance

Trulieve Cannabis Corp. (TCNNF) announced a decrease in its fourth-quarter loss as it strategically exited California and Massachusetts, while simultaneously expanding into Connecticut and Maryland for adult-use cannabis operations. Additionally, the company opened new medical dispensaries in Georgia and Ohio.

Financial Performance

• Fourth-quarter loss decreased to $33.4 million, or 18 cents per share, compared to $77 million, or 41 cents per share, in the previous year.
• Adjusted loss stood at 12 cents per share, surpassing the FactSet consensus estimate of 13 cents per share.
• Fourth-quarter revenue declined to $287 million from $298.5 million a year ago but exceeded the analyst forecast of $268.8 million.

Future Outlook

Trulieve anticipates that first-quarter revenue will mirror the fourth quarter's figure, indicating confidence in continued growth with a potential revenue of $287 million, above the analyst projection of $268.6 million.

Expansion in 2023

In 2023, Trulieve successfully opened 17 dispensaries, expanding its retail presence to 192 locations.

Stock Performance

Trulieve's stock has surged by 88% in 2024, outperforming the AdvisorShares Pure U.S. Cannabis ETF (MSOS) with a 24.8% increase.

These developments signify Trulieve's strategic growth trajectory and positive financial performance in the cannabis industry.