Curaleaf Holdings Inc (OTCPK:CURLF)
$ 2.24 0.2 (9.8%) Market Cap: 1.67 Bil Enterprise Value: 2.28 Bil PE Ratio: 0 PB Ratio: 1.78 GF Score: 68/100
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Q3 2024 Curaleaf Holdings Inc Earnings Call Transcript

Nov 6, 2024 / 10:00 PM GMT
Release Date Price: $2.18 (-30.26%)

Key Points

Positve
  • Curaleaf Holdings Inc (CURLF) reported a revenue of $331 million for Q3 2024, with a focus on profitability resulting in adjusted gross margins of 49%, up 310 basis points year over year.
  • The international segment showed significant growth, increasing 82% year-over-year and 17% quarter-over-quarter, driven by strong performance in Germany and the UK.
  • Curaleaf Holdings Inc (CURLF) generated $42 million of operating cash flow from continuing operations and $14 million of free cash flow after substantial investments in CapEx.
  • The company has a diversified asset base with six markets generating nine figures in annual sales, providing a mitigation of concentration risk.
  • Curaleaf Holdings Inc (CURLF) is focusing on strategic expansion and organic growth, with initiatives to improve margins, optimize cash flow, and enhance product quality.
Negative
  • Total revenue for Q3 2024 decreased by 1% year-over-year, with declines in New Jersey, Arizona, and Illinois partially offset by growth in other segments.
  • The company faced significant pricing pressure in several markets, including a 20% decline in Arizona due to unseasonably warm temperatures and aggressive pricing strategies by competitors in Pennsylvania.
  • Curaleaf Holdings Inc (CURLF) experienced a net loss from continuing operations of $44 million, with a net loss per share of $0.07.
  • The Florida market faced challenges due to the failure of Amendment 3, resulting in a delay in the return of the seasonal patient population and reduced traffic.
  • The cannabis sector continues to experience significant price compression, with national trends showing an 11% decline in pricing during the third quarter.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CURA.TO - Curaleaf Holdings Inc
Q3 2024 Curaleaf Holdings Inc Earnings Call
Nov 06, 2024 / 10:00PM GMT

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Conference Call Participants
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* Camilo Lyon
Curaleaf Holdings Inc - Chief Investment Officer
* Boris Jordan
Curaleaf Holdings Inc - Executive Chairman of the Board
* Ed Kremer
Curaleaf Holdings Inc - Chief Financial Officer
* Aaron Grey
Alliance Global Partners - Analyst
* Matt Bottomley
Canaccord Genuity - Analyst
* Russell Stanley
Beacon Securities - Analyst
* Nick Anderson
Roth MKM - Analyst
* Pablo Zuanic
Zuanic & Associates - Analyst
* Brenna Cunnington
ATB Capital Markets - Analyst

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Presentation
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Operator [1]
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