Cresco Labs (OTCMKTS:CRLBF) Announces Earnings Results, Beats Estimates By $0.06 EPS

Cresco Labs (OTCMKTS:CRLBF) issued its earnings results on Thursday. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.06, Zacks reports. Cresco Labs had a negative net margin of 20.90% and a negative return on equity of 17.98%.

Cresco Labs Stock Performance

Shares of CRLBF traded up $0.06 during mid-day trading on Thursday, reaching $0.72. The company’s stock had a trading volume of 663,256 shares, compared to its average volume of 444,672. The business has a 50-day simple moving average of $0.78 and a two-hundred day simple moving average of $0.92. The company has a current ratio of 2.51, a quick ratio of 1.41 and a debt-to-equity ratio of 1.78. The stock has a market cap of $361.99 million, a P/E ratio of -1.85 and a beta of 1.54. Cresco Labs has a 1-year low of $0.59 and a 1-year high of $2.30.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners reiterated a “buy” rating on shares of Cresco Labs in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Cresco Labs has an average rating of “Buy”.

About Cresco Labs

Cresco Labs is a vertically integrated, multi-state cannabis operator in the United States. The company engages in the cultivation, manufacturing and distribution of a broad range of cannabis products, including flower, pre-rolled joints, concentrates, vaporizers, edibles and tinctures. Cresco Labs’ operations span cultivation facilities, processing laboratories and a network of wholesale distribution centers that supply licensed dispensaries and retail outlets across key cannabis markets.

The company’s product portfolio is organized under several branded platforms, such as MÜV, Reserve and High Supply, each designed to address different segments of the adult-use and medical cannabis markets.