Overview

* Cresco Labs ( CRLBF ) Q3 revenue of $165 mln beats analyst expectations

* Company reports Q3 net loss of $22 mln, impacted by debt refinancing costs

* Company expands into Kentucky, plans product launch in Germany

Outlook

* Cresco Labs ( CRLBF ) plans to expand with new dispensaries in Ohio and Kentucky

* Company anticipates product launch in Germany to drive growth

* Cresco Labs ( CRLBF ) prepared to lead cannabis industry growth and consolidation

Result Drivers

* DEBT REFINANCING - Co refinanced debt to strengthen balance sheet and reduce total debt

* MARKET EXPANSION - New dispensaries in Ohio and expansion into Kentucky are key growth drivers

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $165 mln $163.70

Revenue mln (7

Analysts

)

Q3 Net -$22 mln

Income

Q3 $40 mln

Adjusted

EBITDA

Q3 48.80%

Adjusted

Gross

Margin

Q3 Gross $79 mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the pharmaceuticals peer group is "buy"

* Wall Street's median 12-month price target for Cresco Labs Inc ( CRLBF ) is C$2.00, about 24.5% above its November 4 closing price of C$1.51

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)