Q2 2024 Jushi Holdings Inc Earnings Call Transcript
Key Points
- Jushi Holdings Inc (JUSHF) reported a gross profit of $32.6 million for Q2 2024, representing a gross profit margin of 50.4%, indicating strong financial performance.
- Adjusted EBITDA grew to $14.5 million with a 22.4% margin, reflecting improved operational efficiency.
- The company successfully expanded its product offerings, adding 308 unique SKUs across five vertical markets, enhancing its competitive edge.
- Jushi branded product sales increased to approximately 56% of total revenue, showcasing strong brand performance.
- The company has reduced its debt significantly, with no maturities until 2026, improving its financial stability and liquidity.
- Revenue decreased slightly to $64.6 million in Q2 2024 from $66.4 million in Q2 2023, primarily due to pricing pressures.
- Retail revenue faced challenges with a decline from $59.6 million in Q2 2023 to $57 million in Q2 2024, amidst market price compression and increased competition.
- Wholesale revenue in Massachusetts declined due to oversupply at competitors' facilities, impacting volume and pricing.
- The company faces regulatory uncertainties in key markets like Pennsylvania and Virginia, which could affect future growth.
- Despite improvements, the company still reported a net loss of $1.9 million for the second quarter, indicating ongoing financial challenges.
Good afternoon. My name is Judith van Lierde, and I will be your conference operator today. At this time, I would like to welcome everyone to Jushi Holdings, Inc. second quarter 2024 earnings conference call. Today's call is being recorded.
I will now turn the call over to Trent Woloveck, Chief Strategy Director. Thank you. Please go ahead.
Good afternoon, and thank you for joining us today on JushiĆ¢s second quarter 2024 earnings conference call. My name is Trent Woloveck and IĆ¢m the Chief Strategy Director at Jushi Holdings Inc. With me on todayĆ¢s call are Jim Cacioppo, our Chairman and Chief Executive Officer; Jon Barack, our President; and Michelle Mosier, our Chief Financial Officer.
This call is also being broadcast live over the Internet and can be accessed from the Investor Relations section of the companyĆ¢s website at ir.jushico.com. In addition to the companyĆ¢s GAAP results, management will also provide supplementary results on a non-GAAP basis.
Please refer to
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investorsā 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
