Canadian pot stocks will be the subject of increased scrutiny this week with three of the biggest companies reporting their quarterly results this week.
Aurora Cannabis Inc. (ACB) is up first, reporting its second-quarter results after the closing bell Monday. The Edmonton, Alberta-based company is expected to report a second quarter loss of 6 cents a share, swinging to a loss after reporting a profit of 20 cents a year ago.
Revenue, however, is expected to more than quadruple to $51.84 million from $11.7 million in the year-ago period. Aurora Cannabis shares are down 2.5% on Monday.
Tilray Inc. (TLRY) is scheduled to report its fourth-quarter results on Tuesday. Analysts expect the anaimo, British Columbia-based company to report a loss of 18 cents a share on revenue of $12.4 million.
Tilray’s current structure is heavily weighted to dried cannabis products, which make up 79% of revenue, while cannabis extract products like CBD oil make up 19.3% of the company’s business.
Tilray shares are down 1.7% Monday.
Canopy Growth Corp. (CGC) is scheduled to report its third-quarter results on Thursday, with analysts expecting a loss of 13 cents a share, a year after the company surprised Wall Street by reporting a profit of 1 cent a share when analysts were looking for a loss of 4 cents.
Revenue is expected to jump to $63.9 million from $17.63 million the previous quarter. The company gets 100% of its revenue from medical marijuana sales.
Canopy Growth shares are down 4.1% Monday.