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Glass House Brands (GLASF)
OTHER OTC:GLASF
Earnings Data
Report Date
Mar 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.12Last Year’s EPS
-0.43Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 13, 2024
|% Change Since: -20.25%
|Next Earnings Date:Mar 12, 2025
Earnings Call Sentiment|Neutral
Glass House Brands reported strong production and revenue growth, with significant achievements in retail and CPG performance. However, the company faces challenges with declining cannabis prices and market volatility in California. Despite these challenges, strategic expansion plans and cost efficiencies provide a positive outlook.Company Guidance
During the Glass House Brands third quarter 2024 investor call, the company provided guidance for the upcoming quarters, highlighting several key metrics. The company expects fourth quarter 2024 revenue to be between $47 million and $49 million, projecting a 19% year-over-year increase at the midpoint. They anticipate biomass production to reach 160,000 to 165,000 pounds, marking a 57% increase compared to the previous year. The company foresees an average selling price for wholesale biomass to range from $195 to $200 per pound, with the cost of production expected at $125 per pound. For the fourth quarter, adjusted EBITDA is projected between $3 million to $5 million, while operating cash flow is anticipated to be between breakeven and negative $1 million. By year-end, the company expects a cash balance of approximately $28 million, excluding capital expenditure related to the Phase 3 expansion. Additionally, Glass House Brands plans to invest around $6 million in capital expenditures, with $5 million allocated to the Phase 3 expansion.Record-Breaking Cannabis Production
Achieved a 128% year-over-year increase in cannabis production and a record low quarterly cultivation cost of $103 per pound.
Robust Revenue Growth
Consolidated revenue reached $64 million, reflecting a 32% year-over-year increase and an 18% sequential increase.
Retail Sales Outperformance
Retail sales grew by 11.5% year-over-year, significantly outperforming the broader California market, which declined by 6.4%.
CPG Revenue and Margin Expansion
CPG revenue grew by 9% year-on-year with a significant expansion in gross margin percentage, reaching a gross margin of 26%.
Strong Adjusted EBITDA
Achieved a record adjusted EBITDA of $20.4 million, surpassing guidance and significantly higher than the $12.4 million from the previous quarter.
Strategic Expansion Plans
Plans to spend $5 million in CapEx for Phase 3 expansion, with production expected to start by Q4 2025.
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GLASF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GLASF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 13, 2024 | $8.10 | $7.99 | -1.36% |
| Aug 13, 2024 | $9.28 | $9.80 | +5.60% |
| May 14, 2024 | $9.59 | $9.67 | +0.83% |
| Mar 28, 2024 | $7.75 | $8.02 | +3.48% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Glass House Brands (GLASF) report earnings?
Glass House Brands (GLASF) is schdueled to report earning on Mar 12, 2025, TBA Not Confirmed.
What is Glass House Brands (GLASF) earnings time?
Glass House Brands (GLASF) earnings time is at Mar 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GLASF EPS forecast?
GLASF EPS forecast for the fiscal quarter 2024 (Q4) is -0.12.
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