Cresco Labs (OTCMKTS:CRLBF) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Cresco Labs (OTCMKTS:CRLBF – Get Free Report) announced its earnings results on Friday. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01), Zacks reports. Cresco Labs had a negative net margin of 15.50% and a negative return on equity of 7.53%.

Cresco Labs Trading Down 2.2%

OTCMKTS CRLBF traded down $0.01 on Friday, hitting $0.56. 389,436 shares of the stock were exchanged, compared to its average volume of 700,016. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.98 and a current ratio of 1.78. Cresco Labs has a 52-week low of $0.55 and a 52-week high of $2.30. The firm has a market capitalization of $207.18 million, a P/E ratio of -1.85 and a beta of 1.60. The stock has a fifty day moving average price of $0.68 and a two-hundred day moving average price of $0.85.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CRLBF shares. Zacks Research lowered Cresco Labs from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Alliance Global Partners restated a “buy” rating on shares of Cresco Labs in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Cresco Labs has an average rating of “Buy”.

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Cresco Labs Company Profile

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Cresco Labs Inc is a Chicago-based cannabis company that cultivates, manufactures and distributes cannabis products in the United States. Founded in 2013, the company operates as a multistate cannabis operator, serving regulated markets through a combination of wholesale operations and retail dispensaries.

The company’s product portfolio includes flower, pre-rolls, vape products, concentrates, edibles and other cannabis-related goods. Its principal brands have included Cresco, High Supply, Good News, Wonder Wellness, FloraCal Farms and Mindy’s Edibles.

See Also

Earnings History for Cresco Labs (OTCMKTS:CRLBF)

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