Delta 9 Cannabis Inc. (TSX:DN) provided positive guidance on its revenue forecast for the three-month and nine-month period ending September 30, 2022, based on preliminary results.
For its third quarter ended September 30, 2022, the Winnipeg, Manitoba-based vertically integrated cannabis company anticipates revenue to be between $15.5 million and $15.8 million, compared with $15.2 million in 3Q 2021. If the company’s revenue comes in on the higher side, Delta 9 will register 4% year-on-year growth.
In addition, for the nine-month period to end-September, Delta 9 expects to clock up revenue in the range between $45.5 million and $45.8 million, compared to $45.2 million for the corresponding period a year earlier.
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Delta 9 will release 3Q results on November 14, 2022, after markets close. A conference call to discuss the results is scheduled for the morning of November 15, 2021, at 10 am ET. The call will be hosted by Harvest 9 Cannabis CEO John Arbuthnot and CFO Jim Lawson followed by a question-and-answer session. The dial-in phone number for the conference call is 1-888-886-7786
The preliminary estimated revenue for the three-month and nine-month period ended September 30, 2021, are subject to the completion of the company's financial closing procedures, noted the company.
The preliminary estimated financial results have been prepared by the firm’s management.
Delta 9 sells cannabis products through its wholesale and retail sales channels and sells its cannabis grow pods to other businesses. Delta 9's wholly owned subsidiary, Delta 9 Bio-Tech Inc, is a licensed producer of medical and recreational cannabis and operates an 80,000-square-foot production facility in Winnipeg, Manitoba, Canada.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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