Trulieve Cannabis rises on Q1 revenue beat

American Cannabis

12/05/2022 15:21

** Shares of cannabis co  TRUL.CD  jump 7.3% to C$18.95 
    ** TRUL Q1 revenue rises 64% to $318 mln, beating estimates
of $306.4 mln - Refinitiv IBES  urn:newsml:reuters.com:*:nCNWbbzC9a
    ** "The better-than-expected revenue reflected solid organic
growth in retail sales on increased product availability,
patient count, retail locations, and the further expansion of
the wholesale  business" - ATB Capital Markets
    ** Adjusted core profit also beat estimates
    ** Co expects to realize improved performance in the second
half of 2022 relative to the first half of 2022
    ** Trulieve currently operates 165 retail dispensaries and
over 4.0 million square feet of cultivation and processing
capacity in the United States
    ** TRUL down ~43% so far this year

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))