Trulieve Cannabis reports lower quarterly core profit on slow demand (updated)

Trulieve Cannabis

08/03/2023 11:15

(Adds details)
       March 8 (Reuters) - Trulieve Cannabis Corp  TRUL.CD  reported a fall in
its adjusted core profit for the fourth quarter on Wednesday, as demand for
cannabis-related products scaled back after a pandemic-led surge amid regulatory
challenges, inflation and a dip in prices.
        The company had said in November that it would be lowering production to
match the dip in demand.
        "In 2023, we are laser focused on cash generation while investing to
build a sustainable company designed to thrive in an integrated commerce
environment," said Chief Executive Kim Rivers in a statement.
    The Florida-based company's adjusted core profit fell to $85 million in the
quarter ended Dec. 31, from $100.9 million a year earlier.

 (Reporting by Sourasis Bose in Bengaluru; Editing by Shailesh Kuber)
 ((Sourasis.Bose@thomsonreuters.com;))