Green Thumb Industries (OTC) ( (GTBIF) ) has released its Q3 earnings. Here is a breakdown of the information Green Thumb Industries (OTC) presented to its investors.
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Green Thumb Industries Inc., a prominent player in the cannabis consumer packaged goods sector, operates a wide range of retail cannabis stores and manufactures branded cannabis products across the United States.
In its third quarter 2024 earnings report, Green Thumb Industries posted a revenue of $287 million, reflecting a 4% increase year-over-year, alongside a net income of $9 million. The company opened four new RISE dispensaries and secured a $150 million credit facility, marking significant strategic moves.
Key financial metrics from the quarter include an adjusted EBITDA of $89 million, representing 31% of revenue, and a cash flow from operations totaling $48 million. The company also retired $225 million in senior secured debt and authorized a $50 million share repurchase program. Despite facing price compression in some markets, Green Thumb achieved growth through its expanding dispensary network and increased consumer packaged goods sales.
Looking ahead, Green Thumb Industries remains optimistic about its growth prospects, driven by its focus on operational excellence and product quality. The company’s leadership is committed to expanding its brand portfolio and market presence as it navigates the evolving cannabis industry landscape.
