Green Thumb Industries

Green Thumb reported Q2 comparable-store sales down 1.1% and gross margin falling to 45%, with EBITDA declining to $53.1 million despite revenue rising 4.6% to $306.7 million. The company finished the quarter with $283.6 million cash versus $283 million debt and continued buybacks, repurchasing about 7.9 million shares in the quarter. Management highlights upcoming adult-use legalization in Virginia, a conditional medical license in Texas, and federal rescheduling that may reduce tax burdens as potential drivers for future improvement. » More on finance.yahoo.com

After Curaleaf's takeover bid for Aurora Cannabis, Green Thumb Industries is well capitalized and likely to pursue disciplined, smaller acquisitions or distressed state-level assets rather than large megamergers. Rescheduling cannabis to Schedule III would reduce tax burdens and increase sector deal activity, but Green Thumb's management favors cash-flow preservation, buybacks and strict return thresholds. The company can use its cash and stronger balance sheet to pick up valuable real estate, licenses or processing capacity in high-conviction markets. » More on finance.yahoo.com

Green Thumb reported Q2 revenue of $307 million, beating the consensus estimate; normalized EBITDA was $84 million. Gross margin fell from 50% to 45% and same-store sales declined by about 1%. Management expects stagnant revenue in Q3 due to price pressure, but emphasizes cash-flow strength, share buybacks and long-term growth drivers. The stock rose modestly in after-hours trading, up 2.44% to $10.09. » More on de.investing.com