Replies to post #1685 on Green Thumb Industries Inc (GTBIF)

[FUNMAN]

GTI already worked deals with with Innovative Industrial Properties to Sell and Lease Back Oglesby, Illinois Cultivation and the Toledo, Ohio Processing Facility. That's part of their cash / war chest.


I understand startup cultivation and store opening expenses. I want more clarity on when they forecast net profits.

That's what will propel the PPS over $20.

Right now I will be satisfied if we hold over $15, but I think we will retrace.

I remain confident GTI will hold over $15 by year end when they will also be on pace for a $500+M run rate.

[FUNMAN]

Cantor Fitzgerald Names 'Top Pick' Cannabis Stocks Following Trulieve, GTI Earnings

Wayne Duggan ,
Benzinga Staff Writer
August 13, 2020 10:57am

Cannabis investors have once again gotten a mixed earnings season from Canadian legal producers and US multi-state operators.

Cantor Fitzgerald analyst Pablo Zuanic updated his outlook for Trulieve Cannabis Corp and Green Thumb Industries Inc (MKTS: GTBIF) on Thursday following each company's second-quarter reports.

Trulieve's Numbers: Trulieve reported second-quarter sales of $120.8 million, up 26% sequentially and ahead of consensus analyst estimates of $106.8 million. Trulieve reported a second consecutive quarter of positive cash flow, which jumped from $11 million in the first quarter to $40 million in the second quarter. Adjusted EBITDA for the quarter was $60.5 million, well ahead of analyst estimates of $45 million.

Finally, Trulieve raised its fiscal 2020 sales guidance from a previous range of between $380 million and $400 million to a new range of between $465 million and $485 million.

Zuanic said Thursday that much of Trulieve’s strong performance was driven by the Florida market.

“We think a fact being missed by investors is the uncapped nature of the FL market (re stores and cultivation) for current players; in most other ‘restricted’ states, given caps, we see share dilution risk as licenses expand,” he said.

Green Thumb's Report: Zuanic is also bullish on Green Thumb following its report. Green Thumb reported second-quarter sales of $119.6 million, up 17% compared to the first quarter and ahead of analyst estimates of $102.6 million. EBITDA margins also improved from 25% in the first quarter to 30% in the second quarter. Green Thumb reported a net loss of $12.9 million for the quarter.

Looking ahead, management guided for third-quarter sequential sales growth of between 10% and 15%.

“Green Thumb remains our top pick among US cannabis stocks, together with Trulieve,” he said.

Cantor reiterated Overweight ratings for both Trulieve and Green Thumb. Zuanic raised his Trulieve price target from $47 to $50 and raised his Green Thumb price target from $21 to $27.

[FUNMAN]

Watch absolutely great CNBC Television - Ben Kovler, Green Thumb CEO, on his company's impressive revenue boost. With CNBC's Melissa Lee and the Fast Money traders, Guy Adami, Tim Seymour, Dan Nathan and Bonawyn Eison. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi


Cannabis craze: Green Thumb posts 167% increase in revenue from last year


Aug 13, 2020