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Greenlane Renewables (TSE:GRN)
:GRN
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Earnings Data
Report Date
Mar 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:May 26, 2020
|% Change Since: 66.67%
|Next Earnings Date:May 27, 2019
Earnings Call Sentiment|Positive
The earnings call for Greenlane Renewables in Q3 2024 highlighted several positive developments, including increased revenue and cash balance, improved gross margin, and reduced losses. However, challenges such as workforce reduction, delays in contract awards, and an impairment charge were noted. Overall, the highlights significantly outweigh the lowlights, indicating a positive sentiment.Company Guidance
During the Greenlane Renewables Q3 2024 earnings call, the company highlighted several key financial metrics and operational updates. Revenue for the quarter increased by 10% compared to the same quarter in 2023, reaching $10.5 million, driven by system sales of $8.5 million and aftercare services of $2 million. Greenlane's gross margin before amortization was 34% of revenue, benefiting from a $400,000 positive impact due to expired warranty provisions. Excluding this impact, the gross margin stood at 30%. The company completed three upgrader projects in Q3 and ten projects over the first nine months of 2024, while reducing its general and administration cost run rate by over 25%, resulting in a $500,000 restructuring charge. Adjusted EBITDA showed a significant improvement, with a loss reduced to $200,000 from $4.4 million in Q3 2023. Net loss and comprehensive loss were $2 million, a 61% improvement from the previous year's $5.1 million loss. The cash balance as of September 30, 2024, was $15.4 million, marking a 70% increase from Q2 2024, and Airdep contributed $5.9 million to the total sales order backlog of $14.3 million.Revenue Growth
Reported revenue of $10.5 million for Q3 2024, a 10% increase over Q3 2023, driven by system sales and aftercare services.
Cash Balance Improvement
Cash balance increased to $15.4 million as of September 30, 2024, a 70% increase from Q2 2024, due to conversion of accounts receivable to cash.
Gross Margin Increase
Gross margin before amortization was $3.6 million or 34% of revenue, benefiting from a positive impact of $400,000 related to expired warranty provisions.
Reduction in Loss
Adjusted EBITDA loss reduced to $200,000 from a $4.4 million loss in Q3 2023, and net loss improved by 61% to $2 million from $5.1 million in Q3 2023.
Operational Efficiency
Completed 3 upgrader projects in Q3 2024 and 10 upgrader projects over the first 9 months of 2024, realizing operational efficiencies.
Airdep Contribution
Airdep contributed $5.9 million to the total sales order backlog of $14.3 million as of September 30, 2024.
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TSE:GRN 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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TSE:GRN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | C$0.06 | C$0.08 | +33.33% |
| Aug 07, 2024 | C$0.10 | C$0.09 | -10.00% |
| May 09, 2024 | C$0.08 | C$0.10 | +25.00% |
| Mar 26, 2024 | C$0.12 | C$0.11 | -8.33% |
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 Greenlane Renewables (TSE:GRN) report earnings?
Greenlane Renewables (TSE:GRN) is schdueled to report earning on Mar 06, 2025, TBA Not Confirmed.
What is Greenlane Renewables (TSE:GRN) earnings time?
Greenlane Renewables (TSE:GRN) earnings time is at Mar 06, 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 TSE:GRN EPS forecast?
Currently, no data Available
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