Greenlane Reports Fourth Quarter and Full Year 2019 Results
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Greenlane Holdings Inc. (GNLN) Misses Q4 EPS by 20c, Revenues Miss
March 30, 2020 7:34 AM EDTGreenlane Holdings Inc. (NASDAQ: GNLN) reported Q4 EPS of ($0.27), $0.20 worse than the analyst estimate of ($0.07). Revenue for the quarter came in at $37.2 million versus the consensus estimate of $38.36 million.
Fourth Quarter 2019 Results
Net sales were $37.2 million as compared to $51.6 million for the fourth quarter 2018, a decrease of $14.4 million, or 27.9%; the decline is largely attributable to Greenlane's business transformation and strategy to reduce JUUL concentration and focus on higher-margin sales, offset by an incremental $2.6 million in sales contributed by the Company's acquisition of Conscious Wholesale and establishment of its European segment on... More