'Shakeout' ahead: Aphria CEO sees industry consolidation as company slashes outlook [Business News Network (BNN) Energy & Resources (Canada)]
Aphria Inc. (APHA)
Last aphria inc. earnings: 4/14 09:00 pm
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Source: Business News Network
'Shakeout' ahead: Aphria CEO sees industry consolidation as company slashes outlook Aphria Inc. downgraded its full-year outlook after it reported second-quarter revenue that came in below analyst expectations following a decline in sales from the company’s German pharmaceutical distribution business, while notching a slight improvement in the amount of cannabis sold in the Canadian recreational market. The Leamington, Ont.-based cannabis producer reported a net loss of $7.9 million in the second quarter of fiscal 2020, compared to a gain of $54.8 million for the same period last year. Analysts polled by Bloomberg expected the company to report a net loss of $9.7 million. Aphria also adjusted its forecast for fiscal 2020 with revenue projections now believed to be approximately $575 million to $625 million, down from the $650 million to $700 million the company previously forecast. The company said the decline in projected full-year revenue reflects “certain market dynamics,” includin
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