Canopy Growth Third Quarter 2023 Earnings: Misses Expectations
Canopy Growth (TSE:WEED) Third Quarter 2023 Results
Key Financial Results
Revenue: CA$101.2m (down 28% from 3Q 2022).
Net loss: CA$261.6m (loss widened by 140% from 3Q 2022).
CA$0.54 loss per share (further deteriorated from CA$0.28 loss in 3Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Canopy Growth Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 130%.
Looking ahead, revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Pharmaceuticals industry in Canada.
Performance of the Canadian Pharmaceuticals industry.
The company's shares are down 23% from a week ago.
You should always think about risks. Case in point, we've spotted 2 warning signs for Canopy Growth you should be aware of.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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