In fact, for the period ended May 31, the Canadian jar supplier reported a pretty dramatic loss of C $ 98.8 million ($ 73.9 million), or C $ 0.39 ( $ 0.29) per share, which is in sharp contrast to the C $ 5.7 million ($ 4.3 million). ) profit made during the previous quarter.
However, much of this decline in results was due to the C $ 64 million ($ 48 million) of impairment charges that he took “on some of the company’s international operations in response to the COVID-19 pandemic. ”
More encouragingly, Aphria managed to increase its net sales by 5% from the fiscal third quarter and by 18% on an annual basis to 152 million Canadian dollars (114 million dollars). This despite a 10% year-over-year decrease in kilograms and kilogram equivalents sold.
On average, analysts who track the stock estimated that it would register just under C $ 147 million ($ 110 million) on the top line, with a net loss per share of C $ 0.04 (0 , 03 dollar).
The company didn’t offer any advice, but CEO Irwin Simon said: “With the launch of exciting new product categories and line extensions in the very near future, we believe our award-winning adult portfolio remains. unmatched in the industry. ”
Aphria also said it has filed a prospectus return for an issue of secondary common stock in the market of up to $ 100 million. At the time of this writing, its market capitalization was $ 1.29 billion.
Investors weren’t happy with what they saw. On Wednesday, they lowered marijuana stock by more than 19%, while the broader market, as measured by the S&P 500 Index, rose 1.24%.