Green Thumb Q2 revenue beats estimates on Minnesota adult-use launch

Green Thumb Industries

04/08/2026 21:10

Overview
U.S. cannabis CPG firm's Q2 revenue rose 4.6% yr/yr, beating analyst expectations
Net income for Q2 was $4.9 mln, compared to a loss last year
Company repurchased 7.9 mln shares for $48.3 mln in Q2

Outlook
Company did not provide specific guidance for future quarters or the full year

Result Drivers
MINNESOTA ADULT-USE LAUNCH - Retail revenue growth was driven by the launch of adult-use sales in Minnesota and continued growth in Connecticut, Florida, and Ohio
PRICE COMPRESSION - Gains were partially offset by price compression and increased competition, which weighed on gross margin
HIGHER COMPENSATION COSTS - Increased selling, general, and administrative expenses were mainly due to higher compensation and benefits to support retention and execution

Company press release: ID:nGNX1nvqKF

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$306.70 mln
$299.08 mln (7 Analysts)
Q2 Net Income
 
$4.90 mln
 
Q2 EBITDA
 
$53.10 mln
 
Q2 Gross Profit
 
$137.90 mln
 
Q2 Operating Cash Flow
 
$29 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "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 Green Thumb Industries Inc is C$20.00, about 98.2% above its July 31 closing price of C$10.09
The stock recently traded at 49 times the next 12-month earnings vs. a P/E of 106 three months ago

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(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.)