Cresco Labs Inc. (CRLBF) came out with a quarterly loss of $0.05 per share versus the Zacks Consensus Estimate of a loss of $0.03. This compares to loss of $0.05 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -66.67%. A quarter ago, it was expected that this company would post a loss of $0.06 per share when it actually produced a loss of $0.09, delivering a surprise of -50%.
Over the last four quarters, the company has not been able to surpass consensus EPS estimates.
Cresco Labs Inc. , which belongs to the Zacks Medical – Products industry, posted revenues of $197.89 million for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 1.69%. This compares to year-ago revenues of $218.23 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.
Cresco Labs Inc. Shares have lost about 42.2% since the beginning of the year versus the S&P 500’s gain of 15.6%.
What’s Next for Cresco Labs Inc.
While Cresco Labs
