Glass House Brands Q1 lowers 2026 outlook

Glass House Brands

28/04/2026 22:39

Overview

US cannabis producer's preliminary Q1 net revenue was $40 mln, up slightly from prior quarter

Gross profit margin for Q1 fell to 25%, below guidance and down from 45% a year ago

Company lowered full-year 2026 gross margin and adjusted EBITDA guidance, revenue outlook unchanged

Outlook

Glass House sees 2026 net revenues between $235 mln and $245 mln, in line with prior guidance

Company lowers 2026 gross profit margin outlook to mid 40% range, down from about 48%

Glass House expects 2026 adjusted EBITDA in high $30 mln range, down from high $40 mln prior view

Result Drivers

HIGHER BIOMASS PRODUCTION - Q1 biomass production of 151,000 lbs. exceeded guidance, supporting revenue

HIGHER PRODUCTION COSTS - Company expects cost of production to be about $111 per pound, above prior guidance of roughly $100

Company press release: ID:nGNX8QsJ2M

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
Beat
$40 mln
$39 mln (1 Analyst)
Q1 Gross Profit Margin
25.00%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the drug retailers peer group is "buy"

Wall Street's median 12-month price target for Glass House Brands Inc is $10.50, about 0.3% above its April 27 closing price of $10.53

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)