Proactive Investors - Curaleaf Holdings Inc (CSE:CURA)Inc. analysts are optimistic the US cannabis multi-state operator (MSO) will report higher revenue and a lower loss figure when the company releases its third-quarter 2023 financial results after market close on November 9.
The analyst consensus forecast is for a 14% year-over-year improvement in its 3Q loss per share to $0.06 on revenue that is expected to rise 0.5% to $341.37 million.
During 2Q, Curaleaf fell short of Wall Street expectations on both its top and bottom lines due to gross margin rate erosion from price compression in Florida and New York in addition to falling free cash flow.
Its revenue growth for the period, meanwhile, was driven primarily by organic growth in states such as Nevada, Arizona, Connecticut, New Jersey, and Massachusetts, as well as internationally.
"As the US industry regains its supply-demand equilibrium and we eagerly anticipate the game changing catalysts on the horizon, we continue to control costs and remain focused on long-term growth opportunities, particularly in Europe and our advantage in Germany specifically," Curaleaf Holdings (CSE:CURA) executive chairman Boris Jordan said in a statement at the time.
He added that the company is positioning itself for gross margin improvement in 2024 and beyond.
Shares of Curaleaf have fallen 23% year to date as of Friday’s closing price.