Aurora Cannabis expects to miss analyst revenue estimates in first post-legalization quarter [Toronto Globe and Mail (Ontario, Canada)]
Aurora Cannabis Inc. - Common Shares (ACB)
Company Research
Source: Toronto Globe and Mail
Aurora Cannabis expects to miss analyst revenue estimates in first post-legalization quarter Part of cannabis and Aurora Cannabis Inc. shares sank Tuesday as the company issued a sales forecast for its second fiscal quarter that fell below some analysts’ expectations. Aurora’s guidance comes amid what has been a tepid start to legal recreational cannabis sales in Canada, as a dearth in supply has prompted store closings, product rationing and a dramatic reduction of the number of stores being licensed. Alberta temporarily stopped issuing new licences, while Ontario will choose 25 retailers in a lottery this week that can open by April 1. For the three months ended Dec. 31, Edmonton-based Aurora expects to book between $5-million and $55-million in revenue, after taking into account excise taxes of “several million,” it said in a press release. That would mark an increase from the company’s industry-leading $3-million in sales posted in its prior quarter, but would be well below one
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