Glass House Brands Inc (OTCPK:GLASF)
$ 6.05 +0.020 (+0.33%) Market Cap: 468.01 Mil Enterprise Value: 555.47 Mil PE Ratio: 0 PB Ratio: 3.64 GF Score: 60/100
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Q3 2024 Glass House Brands Inc Earnings Call Transcript

Nov 13, 2024 / 10:00 PM GMT
Release Date Price: $8.1 (+1.25%)

Key Points

Positve
  • Glass House Brands Inc (GLASF) reported a 128% year-over-year increase in cannabis production, showcasing significant growth.
  • The company achieved a record low quarterly cultivation cost of $103 per pound, highlighting operational efficiency.
  • Retail and consumer packaged goods (CPG) segments showed robust growth, with retail sales up 11.5% year-over-year.
  • The Allswell brand has become a top three brand in unit sales, demonstrating strong market acceptance.
  • Glass House Brands Inc (GLASF) is strategically expanding with plans to retrofit Greenhouse Two, aiming for increased production and quality.
Negative
  • Pricing in the cannabis market has been weaker than expected, with prices falling below the lowest levels seen in 2022.
  • The company anticipates continued lower prices in the short term, which could impact profitability.
  • There is significant price compression and competition for shelf space in the retail and branded CPG space.
  • Glass House Brands Inc (GLASF) recognized a $6.3 million non-cash impairment expense related to the carrying value of several store licenses.
  • The company is facing challenges in the California market due to extreme pricing cycles and market volatility.


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

GLASau.NLB - Glass House Brands Inc
Q3 2024 Glass House Brands Inc Earnings Call
Nov 13, 2024 / 10:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon, ladies and gentlemen. And thank you for standing by. Welcome to the Glass House brands third quarter, 2024 investor call. I would now like to turn the conference over to Mr John Rebeck Glass House brands, Vice President of Investor Relations. Please go ahead sir.

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Unidentified_2 [2]
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Thank you operator.

Welcome everyone to the Glasshouse brands third quarter, 2024 conference call for the period ending September 30th 2024.

I'd like to remind everyone that matters discussed during today's conference call could
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