Organigram tops revenue estimates in fiscal Q3 as loss narrows

Dow Jones2021-07-13

MW Organigram tops revenue estimates in fiscal Q3 as loss narrows

Canadian cannabis company Organigram Holdings Inc. (OGI.T) posted a narrower loss for its fiscal third quarter than in the same period a year ago as revenue topped estimates. The company posted a loss of C$4 million ($3.20 million) for the quarter to May 31, after a loss of C$89.9 million in the same period a year ago. It did not offer any per-share numbers. Revenue net of excise taxes came to C$20.2 million, up from C$18.0 million a year ago. The FactSet consensus was for revenue of C$17.2 million. Chief Executive Paolo De Luca said the company was better staffed in the quarter to fulfill demand for its products, after shortages during the pandemic. Adult-use recreational cannabis revenue rose 40% from the prior quarter and was up 10% from a year ago. The company is now expecting sequentially higher revenue and improved adjusted gross margins in the fourth quarter, as COVID-19 restrictions lift and the number of retail stores grows. Shares were up 6% premarket, and have gained 99% in the year to date, while the Cannabis ETF (THCX) has gained 30% and the S&P 500 has gained 16.7%.

-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com

$(END)$ Dow Jones Newswires

July 13, 2021 06:15 ET (10:15 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

JHx
2021-08-15
JHx
Hi

Leave a comment

1

1

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2151688215?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-07-13 18:15","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2151688215","market":"us","top_or_hot":-1,"title":"Organigram tops revenue estimates in fiscal Q3 as loss narrows","media":"Dow Jones","content":"<html><body><font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW Organigram tops revenue estimates in fiscal Q3 as loss narrows\n</p>\n<p>\n  Canadian cannabis company Organigram Holdings Inc. (OG<a href=\"https://laohu8.com/S/00999\">I.T</a>) posted a narrower loss for its fiscal third quarter than in the same period a year ago as revenue topped estimates. The company posted a loss of C$4 million ($3.20 million) for the quarter to May 31, after a loss of C$89.9 million in the same period a year ago. It did not offer any per-share numbers. Revenue net of excise taxes came to C$20.2 million, up from C$18.0 million a year ago. The FactSet consensus was for revenue of C$17.2 million. Chief Executive Paolo De Luca said the company was better staffed in the quarter to fulfill demand for its products, after shortages during the pandemic. Adult-use recreational cannabis revenue rose 40% from the prior quarter and was up 10% from a year ago. The company is now expecting sequentially higher revenue and improved adjusted gross margins in the fourth quarter, as COVID-19 restrictions lift and the number of retail stores grows. Shares were up 6% premarket, and have gained 99% in the year to date, while the <a href=\"https://laohu8.com/S/THCX\">Cannabis ETF</a> (THCX) has gained 30% and the S&amp;P 500  has gained 16.7%. \n</p>\n<p>\n  -Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  July 13, 2021 06:15 ET (10:15 GMT)\n</p>\n<p>\n  Copyright (c) 2021 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Organigram tops revenue estimates in fiscal Q3 as loss narrows</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOrganigram tops revenue estimates in fiscal Q3 as loss narrows\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-13 18:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>MW Organigram tops revenue estimates in fiscal Q3 as loss narrows\n\n\n  Canadian cannabis company Organigram Holdings Inc. (OGI.T) posted a narrower loss for its fiscal third quarter than in the same ...</p>\n\n<a href=\"http://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"THCX","symbol_name":"Innovation Shares Cannabis ETF","start_time":0,"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2151688215","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2151688215","pubTimestamp":1626171300,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"MW Organigram tops revenue estimates in fiscal Q3 as loss narrows\n\n\n  Canadian cannabis company Orga","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"THCX":"Innovation Shares Cannabis ETF","OGI":"ORGANIGRAM HOLD"},"translate_title":"随着亏损收窄，Organigram在第三财季的收入预测中名列前茅","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"OGI":0.9,"THCX":0.9},"content_text":"MW Organigram tops revenue estimates in fiscal Q3 as loss narrows\n\n\n  Canadian cannabis company Organigram Holdings Inc. (OGI.T) posted a narrower loss for its fiscal third quarter than in the same period a year ago as revenue topped estimates. The company posted a loss of C$4 million ($3.20 million) for the quarter to May 31, after a loss of C$89.9 million in the same period a year ago. It did not offer any per-share numbers. Revenue net of excise taxes came to C$20.2 million, up from C$18.0 million a year ago. The FactSet consensus was for revenue of C$17.2 million. Chief Executive Paolo De Luca said the company was better staffed in the quarter to fulfill demand for its products, after shortages during the pandemic. Adult-use recreational cannabis revenue rose 40% from the prior quarter and was up 10% from a year ago. The company is now expecting sequentially higher revenue and improved adjusted gross margins in the fourth quarter, as COVID-19 restrictions lift and the number of retail stores grows. Shares were up 6% premarket, and have gained 99% in the year to date, while the Cannabis ETF (THCX) has gained 30% and the S&P 500  has gained 16.7%. \n\n\n  -Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com \n\n\n \n\n\n$(END)$ Dow Jones Newswires\n\n\n  July 13, 2021 06:15 ET (10:15 GMT)\n\n\n  Copyright (c) 2021 Dow Jones & Company, Inc.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":830160109,"gmtCreate":1629030677001,"gmtModify":1676529913555,"author":{"id":"3573821515865359","authorId":"3573821515865359","authorIdStr":"3573821515865359","name":"JHx","avatar":"https://static.tigerbbs.com/54eb39bebd911124a59d7bf934977d25","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3573821515865359"},"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/830160109","repostId":2151688215,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":1,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.1","shortVersion":"4.28.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2151688215"}