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Flora Growth (FLGC)
NASDAQ:FLGC
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Earnings Data
Report Date
Mar 28, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.17Last Year’s EPS
-$0.32Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 13, 2024
|% Change Since: -7.08%
|Next Earnings Date:Mar 28, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted significant strategic expansions and leadership changes that position Flora Growth for future growth in both the U.S. and European markets. However, the company faced challenges with declining revenue and increased operating expenses. Despite these challenges, the substantial reduction in net loss and strong performance of key brands suggest a cautiously optimistic outlook.Company Guidance
During the Flora Growth Corporation Q3 2024 earnings call, the company provided guidance reflecting strategic initiatives and financial metrics. Flora's revenues for the third quarter of 2024 were $12.5 million, down from $17.3 million in the same quarter of 2023, primarily due to discontinuing unprofitable lines. The company reported a net loss of $9.8 million, a significant improvement from the $47.3 million loss in the prior year. Total operating expenses increased to $6.5 million compared to $5.5 million in Q3 2023. JustCBD maintained a gross profit margin of 40% on $4.2 million in sales, while Vessel achieved a 55% margin on $1.1 million in sales. Parallel Import business and regulatory advancements in the U.S. and Germany are seen as key drivers for future growth. The company ended the quarter with $4.2 million in cash and $21.3 million in current assets, including $7.9 million in saleable inventory. Flora is optimistic about leveraging federal rescheduling in the U.S. and regulatory developments in Germany to enhance market presence.Strategic Expansion in the U.S. and Germany
Flora Growth is leveraging its brands, JustCBD and Vessel, to capture market share in the U.S. with a focus on the growing infused beverage market. In Germany, the company is launching a Parallel Import business to meet the demand for affordable pharmaceuticals.
Significant Reduction in Net Loss
The net loss for the period was reduced to $9.8 million from $47.3 million, an improvement of $37.5 million or 79%.
Strong Performance of JustCBD and Vessel
JustCBD maintained a gross profit margin of 40% with $4.2 million in sales, while Vessel maintained a gross profit margin of 55% with $1.1 million in sales. Both brands continued to expand their wholesale customer base.
New Leadership in European Operations
Dr. Manfred Ziegler, former Managing Director of CC Pharma, was appointed to lead operations in Europe, bringing extensive experience and a successful track record.
Potential Policy Advancements in the U.S.
Positive signals from U.S. political leaders regarding cannabis regulation and the introduction of the Cannabinoid Safety and Regulations Act could benefit Flora's operations.
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FLGC 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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FLGC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 13, 2024 | $1.13 | $1.31 | +15.93% |
| Aug 12, 2024 | $0.93 | $0.93 | 0.00% |
| May 14, 2024 | $1.28 | $1.33 | +3.91% |
| Mar 28, 2024 | $2.31 | $2.28 | -1.30% |
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 Flora Growth (FLGC) report earnings?
Flora Growth (FLGC) is schdueled to report earning on Mar 28, 2025, TBA Not Confirmed.
What is Flora Growth (FLGC) earnings time?
Flora Growth (FLGC) earnings time is at Mar 28, 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 FLGC EPS forecast?
FLGC EPS forecast for the fiscal quarter 2024 (Q4) is -$0.17.
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