Green Thumb Q1 revenue beats estimates

Green Thumb Industries

06/05/2026 21:23

Overview

U.S. cannabis CPG firm's Q1 revenue rose 7.4% yr/yr, beating analyst expectations

Net income for Q1 nearly doubled, driven by one-time arbitration settlement and investment income

Company repurchased 6 mln shares in Q1, with 13.4 mln shares bought back year-to-date

Outlook

Company expects Section 280E relief to provide flexibility for reinvestment in operations

Green Thumb sees rising consumer demand for THC products

Company anticipates a more practical regulatory framework after federal cannabis rescheduling

Result Drivers

MINNESOTA LAUNCH - Retail revenue growth was driven by the launch of adult-use sales in Minnesota and continued growth in Connecticut and Florida

PRICE COMPRESSION & COMPETITION - Price compression and increased competition weighed on Consumer Packaged Goods revenue and overall margins

BRAND LICENSE FEES - Decline in gross margin was primarily due to brand license fees and price compression

Company press release: ID:nGNX9wW3Zv

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$300.2 mln
$296.76 mln (7 Analysts)
Q1 Net Income
$15.4 mln
Q1 EBITDA
$73.1 mln
Q1 Gross Profit
$143.6 mln
Q1 Operating Cash Flow
$76 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"

Wall Street's median 12-month price target for Green Thumb Industries Inc is C$19.00, about 71% above its May 5 closing price of C$11.11

The stock recently traded at 106 times the next 12-month earnings vs. a P/E of 59 three months ago

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.)