Green Thumb Industries Inc (XCNQ:GTII)
C$ 10.59 -0.2 (-1.85%) Market Cap: 2.50 Bil Enterprise Value: 3.02 Bil PE Ratio: 28.93 PB Ratio: 1.04 GF Score: 60/100
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Q2 2024 Green Thumb Industries Inc Earnings Call Transcript

Aug 05, 2024 / 09:00PM GMT
Release Date Price: C$14.9

Key Points

Positve
  • Revenue increased by 11% year-over-year to $280 million.
  • EBITDA reached over $90 million, showcasing strong profitability.
  • Cash flow from operations was $20 million after significant tax payments.
  • Repurchased 1.6 million shares for approximately $20 million, indicating confidence in the company's value.
  • Strong brand presence with top-rated brands like RYTHM, Dogwalkers, Incredibles, and Beboe.
Negative
  • Continued price compression in most markets, affecting overall revenue.
  • Inflationary pressures and national anxiety around upcoming elections create uncertainty.
  • Retail revenue decreased by 9% compared to the prior-year period.
  • Second-quarter comparable sales decreased by 2.3% from a base of 76 stores.
  • Increased SG&A expenses, driven by compensation costs and the addition of new retail stores.
Operator

Good day and welcome to the Green Thumb Industries' second-quarter 2024 earnings conference call and webcast. (Operator Instructions) Please note this event is being recorded.

I would now like to turn the conference over to Shannon River. Please go ahead, ma'am.

Shannon Weaver
Green Thumb Industries Inc - Investor Relations

Thank you, Matt. Good afternoon, and welcome to the Green Thumb's second-quarter 2024 earnings call. I'm here today with Founder and CEO, Ben Kovler; President, Anthony Georgiadis, and Chief Financial Officer, Matt Faulkner.

Today's discussions and responses to questions may include forward-looking statements, which are subject to various risks and uncertainties that could cause our actual results to differ materially from these statements. These risks and uncertainties are detailed in the earnings press release issued today, along with the reports filed with the United States Securities and Exchange Commission and Canadian securities regulators, including our most recent annual report filed on Form 10-K.

This

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