Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Verano Holdings (VRNOF)
OTHER OTC:VRNOF
Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.07Last Year’s EPS
-0.21Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: -57.40%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Neutral
Verano showed strength in certain markets and positioned itself well for potential federal policy changes. However, significant challenges in revenue decline and competitive pressures were noted, alongside operational impacts from natural disasters.Company Guidance
During Verano Holdings Corp.'s third-quarter 2024 earnings call, the company provided several key metrics and guidance for future performance. Revenue for the quarter decreased to $217 million, with gross profit at $109 million, or 50% of revenue. Adjusted EBITDA was reported at $64 million, representing 30% of revenue. The company highlighted its strategic expansion in Florida, with ongoing enhancements at its Apollo Beach facility and the development of a new cultivation site in Ocala. Despite challenges from hurricanes and increased competition in markets like Illinois and New Jersey, Verano remains focused on improving efficiencies and cost management. The company anticipates a potential $80 million annual tax saving pending a Schedule III classification, based on 2023 results. Cash equivalents at the end of the quarter were $65 million, and CapEx totaled $85 million year-to-date, primarily directed towards cultivation and dispensary expansion in Florida. Looking ahead, Verano expects the fourth-quarter organic revenue trends to persist, with some positive impact anticipated from holiday sales.Strong Market Position in Florida
Verano has expanded its cultivation capacity in Florida, reaching the #2 spot for THC and flower market share, despite the recent vote against adult-use cannabis.
Successful Virginia and Arizona Acquisitions
Verano closed quickly on acquisitions in Virginia and Arizona, with Virginia showing strong potential for vertical integration and minimal CapEx required.
Positive Developments on Federal Cannabis Policy
The potential reclassification to Schedule III could save Verano an estimated $80 million annually, with bipartisan support for cannabis policy reform offering promising legislative and executive action.
Ohio's Adult-Use Market Growth
Ohio's adult-use program showed strong growth, with net retail revenue up 2x and net wholesale revenue up 2.5x compared to previous periods.
---
VRNOF 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
---
VRNOF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $2.23 | $2.04 | -8.52% |
| Aug 07, 2024 | $3.41 | $3.17 | -7.04% |
| May 08, 2024 | $4.95 | $4.90 | -1.01% |
| Feb 29, 2024 | $5.38 | $5.18 | -3.72% |
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.
---
FAQ
When does Verano Holdings (VRNOF) report earnings?
Verano Holdings (VRNOF) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is Verano Holdings (VRNOF) earnings time?
Verano Holdings (VRNOF) earnings time is at Feb 27, 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 VRNOF EPS forecast?
VRNOF EPS forecast for the fiscal quarter 2024 (Q4) is -0.07.
---