Green Thumb Industries Q2 net gain expands as cannabis MSO beats on top, bottom lines

By: Jonathan Block on https://seekingalpha.com

• Green Thumb Industries (OTCQX:GTBIF) saw its Q2 2022 net income expand ~11% compared to the prior-year period to $24.4M even though revenue rose.
• The Chicago-based cannabis multi-state operator also beat on the top and bottom lines.
• Revenue of ~$254.3M was a ~15% increase compared to Q2 2021.
• The company said the revenue increase was due to increased sales in its retail business, new store openings, the start of New Jersey adult-use sales in April, and continued growth in the Illinois market.
• Comparable sales growth were down 1.5% on a base of 56 stores. Sequential quarter-over-quarter sales were up 9.9% on a base of 73 stores.
• The company ended the quarter with $145.3M in cash and cash equivalents.
• Read how Green Thumb (OTCQX:GTBIF) stands to benefit if a marijuana legalization bill in the Senate is approved in an analysis from Seeking Alpha contributor Cannabis Growth Investor.

H/T: By: https://seekingalpha.com

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