Trulieve Cannabis Corp. (CSE:TRUL) is expected to report a year-over-year decline in both its sales and profits when the cannabis company reports its third quarter financial results before the market opens on Thursday, November 9.
Continued weaker consumer spending due to inflationary pressures is expected to weigh on the Tallahassee, Florida multi-state operator (MSO)’s quarterly performance.
Additionally, U.S. cannabis companies are struggling amid lower prices, rising operating costs, and increased competition.
For the quarter ended September 30, 2023, Trulieve is expected to report a loss per share of $0.17, compared to earnings per share of $0.02 in the year-ago quarter.
Revenue is expected to decline from $300.7 million in the same period in 2022 to $269.47 million, Wall Street analysts forecast.
Trulieve shares traded down 1.7% at US$4.70 on Monday morning. The stock is down 35.4% in the year to date.
Contact the author at emily.jarvie@proactiveinvestors.com
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