Canopy Growth Reports Third Quarter Fiscal 2020 Financial Results

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Go back to Canopy Growth Reports Third Quarter Fiscal 2020 Financial Results

Canopy Growth (CGC) Gains 20% Following Results

February 14, 2020 7:45 AM EST

Canopy Growth (NYSE: CGC) gains 20% in pre-open trade following results. The company posted a Q3 loss Cdn$0.35, while revenues rose 62%.

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Canopy Growth (CGC) Reports Q3 Loss of Cdn$0.35, Revenues Rise 62%

February 14, 2020 6:02 AM EST

Canopy Growth (NYSE: CGC) reported Q3 EPS of (Cdn$0.35), versus (Cdn$0.38) reported last year. Revenue for the quarter came in at Cdn$123.76 million, versus Cdn$83.05 million reported last year.

Third Quarter Fiscal 2020 Corporate Financial Highlights

Revenues: Reported Net Revenues increased 62% over Q2 2020, or 13% excluding the impact of portfolio restructuring charges. Gross Recreational B2B revenue increased 8% over prior quarter due, in part, to over 140 stores becoming active in the quarter and higher sales of premium dried flower and pre-roll joints. Our acquired businesses including Storz & Bickel and This Works also performed well,... More