Overview

* Cresco Labs ( CRLBF ) Q2 revenue of $164 mln beats analyst expectations

* Company reports Q2 net loss of $14 mln due to impairment charges

* Co signs $325 mln term loan commitment to refinance debt

Outlook

* Company sees M&A opportunities in productive states

* Cresco Labs ( CRLBF ) plans to invest in sustainable growth opportunities

* Company aims to be a partner of choice as industry consolidates

Result Drivers

* DEBT REFINANCING - Cresco Labs ( CRLBF ) signed a $325 mln term loan commitment to refinance debt, enhancing financial flexibility

* MARKET SHARE - Co maintained No. 1 share position in multiple billion dollar markets

* IMPAIRMENT CHARGES - Net loss includes $9 mln non-cash impairment charges related to California assets held for sale

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $164 mln $162.70

Revenue mln (7

Analysts

)

Q2 Net -$14 mln

Income

Q2 $41 mln

Adjusted

EBITDA

Q2 50.6%

Adjusted

Gross

Margin

Q2 Gross $83 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 53.5% above its August 6 closing price of C$0.93

Press Release:

(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.)