Aphria Inc (fka APHA)

[FUNMAN]

Aphria sinks 8% post-earnings as distribution revenue takes big pandemic hit GEEEZZZ

Oct. 15, 2020 8:35 AM ET|About: Aphria Inc. (APHA)|By: Stephen Alpher, SA News Editor

FQ1 net cannabis revenue of $62.5M was up 103% year-over-year and 18% Q/Q, even as overall net revenue of $145.7M fell 16% Y/Y and 4% Q/Q (and missed estimates). This was thanks to distribution revenue of $82.2M which fell from $99.1M a quarter earlier, with the company noting the pandemic as the sole reason.

Cash cost to produce dried cannabis of $0.87 per gram was down 1% Q/Q, and fell for fourth straight quarter.

Adjusted EBITDA from cannabis business of $10.4M up 11% Q/Q.

Cash and cash equivalents on balance sheet at end of Q of $400M.

Conference call is set for 9 ET.