10 Pot Stocks For Your Watchlist That Are Set To Release Earnings In 2021
Are you looking for top marijuana stocks to invest in for 2021? At the present time, many of the best cannabis companies have performed well and delivered strong first quarter and fiscal earnings. Now with another round of financial results scheduled for these leading cannabis company’s investors should keep a close eye on how these companies continue to perform. With most companies expected to release earnings in the next few weeks, it’s important for cannabis investors to keep tabs on the revenue growth these companies are delivering.
Tilray, Inc. (NASDAQ:TLRY)
Reports fourth quarter and fiscal 2021 financial results on Wednesday, July 28, 2021, before the open
Tilray, Inc. is a leading global cannabis consumer packaged goods company with operations in Canada, the US, Europe, Australia, and Latin America. Recently, in one of the biggest M&As in Canada, Tilray merged with Aphria Inc. to become one of the largest revenues producing Canadian cannabis companies in the world. In its 2020 full fiscal year and fourth-quarter results, the company saw revenue increase by 26% to $210.5 million in 2020 compared to the prior year.
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Cronos Group Inc. (NASDAQ:CRON)
Reports Q2 2021 financial results on Wednesday, August 4, 2021
Net revenue of $12.6 million in Q1 2021 increased by $4.2 million from Q1 2020. The increase year-over-year. Gross loss of $3.0 million in Q1 2021 decreased by $3.5 million from Q1 2020. The decrease in losses year-over-year was primarily driven by an increase in net revenue and a decrease in inventory write-downs in the Rest of World (“ROW”) segment.
Innovative Industrial Properties, Inc. (NYSE:IIPR)
Reporting second-quarter 2021 financial results Wednesday, August 4, 2021, after the close
In the cannabis industry Innovative Industrial Properties, Inc. is one of the only real estate investment trust with a focus on the US-licensed cannabis market. As of May, the company owns 72 properties across 19 states nationwide. In its first-quarter 2021 financials, the company saw total revenue of an estimated $42.9 million an increase of 103% year over year. In June IIP declared its second-quarter 2021 dividend of $1.40 per share.
Curaleaf Holdings, Inc. (OTC:CURLF)
Reports second quarter 2021 financial results Monday, August 9, 2021, after the close
One of the leading cannabis companies that have established a footprint in key markets across the US is Curaleaf Holdings, Inc. The company provides packaged cannabis products and has opened its 107th retail location recently in New Jersey. Curaleaf reported its first-quarter 2021 revenue of $260 million up 170% from the prior year. As for the second quarter of 2021, Curaleaf announced revenue guidance of $305-$315 million.
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Verano Holdings Corp. (OTC:VRNOF)
Reports second quarter 2021 financial results on Tuesday, August 10, 2021, before the open
Verano Holdings Corp. is a leading MSO in the U.S. devoted to providing responsible access to regulated cannabis products. Primarily, the company produces a comprehensive suite of premium, innovative cannabis products sold under its portfolio of consumer brands. The company’s portfolio is available in 14 U.S. States, with active retail operations in 11 of those states. At the present time, Verano has 78 operational retail dispensaries, and 10 cultivation and processing facilities. In its first-quarter 2021 financials, the company reported earnings of $143 million up 117% from the prior year. As a result, the company saw gross profit margins of over 62% in Q1 2021.
Harvest Health & Recreation Inc. (OTC:HRVSF)
Reports second 2021 financial results Tuesday, August 10, 2021, after the close
Harvest Health & Recreation Inc. is a vertically integrated cannabis company based in Arizona with one of the largest footprints in that state. Harvest owns, and operates, or manages 37 retail locations in six states, including 15 open dispensaries in Arizona. For its first quarter of 2021, the company produced revenue of $88.8 million, up 101% from the first quarter of 2020 and 27% sequentially. First-quarter net loss before non-controlling interest was $23.0 million, compared to $7.4 million in the fourth quarter of 2020. Adjusted EBITDA was $26.9 million in the first quarter, up 196% compared to $9.1 million in the fourth quarter of 2020. In addition, the company gave 2021 revenue target increased to at least $400 million.
Green Thumb Industries Inc. (OTC:GTBIF)
Reports second quarter 2021 financial results on Wednesday, August 11, 2021, after the close
Green Thumb Industries Inc. is a leading US cannabis consumer packaged company that has established a dominant presence in key markets. Currently, Green Thumb has 58 retail locations across 11 states and recently acquired a Massachusetts cannabis operator Liberty Compassion Inc. GTI has licensed for 103 retail locations for future expansions. In its first-quarter 2021 financials, the company reported total revenue of $194.4 million. This is an increase of 89.5% from Q1 of 2020. As a result, the company is reporting gross profits of $110.9 million or 57% of revenue.
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Trulieve Cannabis Corp. (OTC:TCNNF)
Reports second quarter 2021 financial results on August 12, 2021, before the bell
In Florida, Trulieve Cannabis Corp. has established the largest market share with more than 50% of the legal cannabis sale in the state. In addition, once the acquisition of Harvest Health & Recreation Inc. (OTC: HRVSF) is complete the new company will have a consensus 2021 revenue of $1.2 billion. The Company currently has 85 stores in Florida, and 91 nationwide, with more growth, strategically planned. Trulieve reported a record first-quarter 2021 revenue of $193.8 million producing a net income of $30.1 million.
Columbia Care Inc. (OTC:CCHWF)
Reports second quarter 2021 financial results on Thursday, August 12, 2021, before the open
Columbia Care Inc. could be one of the best-positioned cannabis companies to grow rapidly in the state of New York after legalization is complete. The company operates in 18 US markets and operates 115 facilities including 87 dispensaries and 28 cultivation and manufacturing facilities. In the first quarter of 2021, Columbia Care announced a record combined revenue of $92.5 million an increase of 220% from the prior year. The company produced a record combined adjusted gross profit of $37.7 million an increase of 316% year over year. Columbia Care reaffirmed its 2021 combined revenue guidance of $500-$530 million and adjusted EBITDA of $95-$105 million.
Cresco Labs Inc. (OTC:CRLBF)
Reports second-quarter financial results on Friday, August 13, 2021, before the open
Cresco Labs Inc is one of the largest vertically integrated MSOs in the US. and the number one wholesaler of branded cannabis products. At the present time, the company operates 33 retail locations across 10 states. In its first-quarter 2021 financials, Cresco saw record revenue of $178 million. The company expects to reach an annualized revenue of more than $1 billion in 2021. In Q1 2021, Cresco delivered gross profits of $87.0 million or 48.8% of revenue.
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