Latest news with #Cresco
Business Wire
5 days ago
- Business
- Business Wire
Cresco Labs Announces Commitments to Refinance its Senior Secured Credit Facility
CHICAGO--(BUSINESS WIRE)--Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) (FSE: 6CQ) (' Cresco Labs ' or the ' Company '), today announced that it has successfully obtained commitments to refinance its senior secured credit facility (the 'Senior Loan'). The refinancing, upon closing, will provide for a new senior secured term loan totaling US$325 million, bearing an interest rate of 12.5% per annum, and maturing on the 5 th year anniversary of the closing of the refinancing. The new facility will replace the Company's existing US$360 million credit facility, providing enhanced financial flexibility and favorable terms, including provisions that will allow for the prepayment of up to US$125 million at a reduced prepayment premium. The refinancing comes at a time when access to capital remains highly constrained across the U.S. cannabis sector. With an estimated $2 billion in industry debt maturities coming due over the next 18 months, Cresco Labs' ability to refinance its credit facility underscores the resilience of its business model and enables it to execute on its multi-year growth plan. 'Securing this refinancing is a testament to the strength of our business and the trust we've built with top-tier institutional lenders,' said Charlie Bachtell, CEO of Cresco Labs. 'In an environment where capital is scarce, Cresco stands out. We've extended our maturity, improved our balance sheet position, and done so without dilution. This positions us to play offense instead of focusing on refinancing risk. It's a strategic win in a capital-constrained market.' Proceeds from the new facility, together with cash on hand, will be used to repay in full the existing term loan, fund capital expenditures, and support targeted growth initiatives across Cresco's core U.S. markets. The refinancing was negotiated at arm's length and includes customary financial and operational covenants. The facility contains no equity or convertible features. A.G.P. Canada Investments ULC and Cormark Securities Inc. acted as lead financial advisors and lead arrangers on the transaction. The lead lenders were advised by Paul Hastings LLP. The refinancing is expected to close on or about August 13, 2025, subject to customary closing conditions. About Cresco Labs Inc. Cresco Labs' mission is to normalize and professionalize the cannabis industry through a CPG approach to building national brands and a customer-focused retail experience, while acting as a steward for the industry on legislative and regulatory-focused initiatives. As a leader in cultivation, production, and branded product distribution, the Company is leveraging its scale and agility to grow its portfolio of brands that include Cresco, High Supply, FloraCal, Good News, Wonder Wellness Co., Mindy's, and Remedi, on a national level. The Company also operates highly productive dispensaries nationally under the Sunnyside brand that focus on building patient and consumer trust and delivering ongoing education and convenience in a wonderfully traditional retail experience. Through year-round policy, community outreach and SEED initiative efforts, Cresco Labs embraces the responsibility to support communities through authentic engagement, economic opportunity, investment, workforce development, and legislative initiatives designed to create the most responsible, respectable and robust cannabis industry possible. Learn more about Cresco Labs' journey by visiting or following the Company on Facebook, X or LinkedIn. Forward-Looking Statements This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute 'forward-looking statements' within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 (collectively, 'forward-looking statements'). Such forward-looking statements are not representative of historical facts or information or current condition but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking statements can be identified by the use of forward-looking terminology such as, 'may,' 'will,' 'should,' 'could,' 'would,' 'expects,' 'plans,' 'anticipates,' 'believes,' 'estimates,' 'projects,' 'predicts,' 'potential,' or 'continue,' or the negative of those forms or other comparable terms and in this press release includes statements relating to, among other things: the timing and ability to close the refinancing, including satisfying all conditions precedent in the commitment letter; any prepayments under the new facility; access to capital; the Company executing on its multi-year growth plan; and the anticipated use of proceeds from the new facility. The Company's forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those risks discussed under 'Risk Factors' in the Company's Annual Information Form for the year ended December 31, 2024, filed on SEDAR+ and EDGAR, other documents filed by the Company with Canadian securities regulatory authorities; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company's forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco Labs' shares, nor as to the Company's financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company's forward-looking statements contained herein, whether as a result of new information, any future event, or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise.
Yahoo
25-07-2025
- Business
- Yahoo
Cannabis Operator CRLBF Plans California Exit: How to Play the Stock?
Despite maintaining strong operational discipline, Cresco Labs CRLBF continues to face persistent challenges in the domestic market. In a bid to streamline operations and improve profitability, Cresco Labs announced a major strategic move — the decision to divest its California operations. Let's delve into the company's fundamentals to gain a better understanding of how to play the stock amid this divestiture decision. California No Longer Fits Cresco's Strategy Although California is the largest cannabis market in the world, it is also one of the most difficult to operate in. Per Cresco, the state is plagued by persistent structural challenges — which include intense price competition, illicit market activity and high taxes. These conditions have made it difficult for even the most established operators to turn a profit in the state. Cresco's move comes as part of a broader strategic restructuring plan designed to 'strengthen its balance sheet, increase cash flow, and prioritize markets with the highest margins and long-term growth potential.' This is also in line with the company's ongoing efforts to simplify operations and improve efficiency in light of ongoing federal and state-level regulatory headwinds. CRLBF remains in active discussions with prospective buyers and expects to finalize the transaction in the coming quarters. The divestiture also reflects a broader industry trend, where several cannabis players are reevaluating their footprints in underperforming or oversaturated markets. Back in 2023, Curaleaf Holdings CURLF announced a similar decision to exit California to optimize operations and reduce costs. By pulling back from such markets, operators like Cresco and Curaleaf are refocusing on core markets where the reallocated capital can deliver stronger returns. Despite divesting these assets, the company will retain full ownership of its premium FloraCal brand, and continue producing and marketing it across key domestic markets. CRLBF's Cannabis Business Under Pressure What differentiates Cresco from its peers is that all of its revenues are generated solely from the United States. This geographic concentration exposes it more directly to the challenges of a heavily regulated domestic market. While the company continues to highlight its leading market share in several U.S. states, top-line pressures persist. Management has already flagged a potential revenue dip in Q2, citing operational disruptions tied to Illinois' mandatory seed-to-sale system transition. Profitability remains under pressure, with shrinking gross and EBITDA margins reflecting tough wholesale conditions and limited pricing power. While Cresco Labs points to new dispensary openings and cultivation expansions as potential growth drivers, these initiatives come with increased capital and operational demands. Though debt refinancing remains a key priority, the strategy depends on sustaining strong cash flow conversion, which may prove challenging if revenue softness persists. Competitive Landscape Cresco faces stiff competition from its peers — Curaleaf Holdings, Green Thumb Industries GTBIF and Tilray Brands TLRY — all of which are also pursuing similar expansion and cost-optimization strategies, making the competitive landscape even tougher. Companies like Curaleaf Holdings and Tilray Brands are also expanding their footprints beyond geographic borders, in markets like Europe and Australia. This international exposure gives them an edge over Cresco Labs and Green Thumb, which remain fully dependent on an increasingly saturated and fragmented U.S. market. CRLBF Stock Performance and Estimates Shares of Cresco have underperformed the industry this year so far, as shown in the chart below. Image Source: Zacks Investment Research Loss estimates for 2026 and 2027 have widened over the past 60 days. Image Source: Zacks Investment Research How to Play CRLBF Stock? While Cresco's restructuring plans highlight the company's strong focus on profitability, the stock remains exposed to significant domestic headwinds. Without a major shift in federal policy or a recovery in retail pricing — something that remains uncertain in the near term — meaningful upside appears limited. The stock currently carries a Zacks Rank #4 (Sell), indicating limited upside and elevated risk for conservative investors. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tilray Brands, Inc. (TLRY) : Free Stock Analysis Report Green Thumb Industries Inc. (GTBIF) : Free Stock Analysis Report Cresco Labs Inc. (CRLBF) : Free Stock Analysis Report Curaleaf Holdings, Inc. (CURLF) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
18-07-2025
- Yahoo
Don't have a pool? Here's where to rent one near you in the Poconos
As the summer heat continues, a refreshing dip in the pool might be just what you need. But if you don't have access to a pool, don't sweat it: Swimply lets you rent private backyard pools by the hour. Here are seven local outdoor pool options you can look into renting for the day. Prices marked with an asterisk offer a 20% discount Monday through Thursday. Prices may change, and increase with more guests. Cresco Unique and custom in-ground pool Price: Starts at $70 per hour for up to five guests Chlorine pool, 3 to 15 feet deep. Accommodates up to eight guests. Features a diving board, night lighting, lounge chairs, and umbrellas. The pool is not heated. Listing: More: Luxury in the Poconos: These are some of the most expensive Airbnbs in Monroe County East Stroudsburg Private pool with water slide Price: Starts at $75 per hour for up to five guests Saltwater pool, 3 to 6 feet deep, with water slide and lots of curves. Great for fun group gatherings. Owner offers pizza at an additional cost upon request. No pets allowed. Up to 20 guests. Listing: Private retreat space Price: Weekday rate starts at $40 per hour for up to five guests* Up to 100 guests. No pets in the pool. Includes a heated pool, 2 acres of landscaped grounds and space for events, parties or showers. Listing: Private heated pool Price: Weekday rate starts at $80 per hour for up to five guests* Heated 16-by-40 saltwater pool for up to 20 guests, plus a hot tub. Listing: Pocono Oasis Price: Starts at $48 per hour for up to 10 guests while grand opening discount lasts Chlorine pool, 3 to 6 feet deep. Up to 50 guests are allowed. Perfect for small events or just a relaxing pool day. Listing: Stroudsburg Private pool on a hilltop Price: Starts at $22.50 per hour for up to five guests (10% weekday discount) Chlorine water pool with a private entrance. Up to 15 guests. Comes with lounge chairs and table. No glass allowed. Set among pine trees; water shoes are recommended. Listing: Backyard pool Price: Starts at $80 per hour for first five guests Chlorine water pool for up to 60 guests. Pets are welcome outside of the pool area. Includes 10 parking spaces. Listing: To find more pools in your area, visit Emmanuella Pierre is the trending and breaking news reporter at the Pocono Record. Reach her at epierre@ This article originally appeared on Pocono Record: Pool rentals in the Poconos: 7 options for private swimming Solve the daily Crossword
Yahoo
14-07-2025
- Business
- Yahoo
Undiscovered Gems in Asia to Watch This July 2025
As global markets navigate the complexities of new U.S. tariffs and mixed economic indicators, investor sentiment remains cautious, particularly in Asia where hopes for stimulus measures in China have buoyed local indices. Amid these dynamic conditions, identifying promising small-cap stocks requires a keen eye on companies with solid fundamentals and potential resilience to geopolitical shifts. Name Debt To Equity Revenue Growth Earnings Growth Health Rating Argosy Research NA 6.09% 11.72% ★★★★★★ Cresco 5.53% 8.75% 11.19% ★★★★★★ GakkyushaLtd 17.84% 4.47% 15.16% ★★★★★★ Nantong Guosheng Intelligence Technology Group NA 8.02% 1.71% ★★★★★★ Shangri-La Hotel NA 23.33% 39.56% ★★★★★★ Konishi 0.15% 0.46% 12.50% ★★★★★★ Jiangyin Haida Rubber And Plastic 16.31% 7.95% -9.56% ★★★★★★ Zhejiang Chinastars New Materials Group 38.79% 0.20% 4.21% ★★★★★☆ Eclatorq Technology 10.07% 11.67% 25.66% ★★★★★☆ Zhejiang Fuchunjiang Environmental ThermoelectricLTD 61.23% 1.99% -6.62% ★★★★☆☆ Click here to see the full list of 2603 stocks from our Asian Undiscovered Gems With Strong Fundamentals screener. Let's review some notable picks from our screened stocks. Simply Wall St Value Rating: ★★★★★★ Overview: Zhongyuan Bank Co., Ltd. offers a range of banking products and services across the Asia Pacific, North America, and internationally, with a market capitalization of HK$14.44 billion. Operations: Zhongyuan Bank generates its revenue primarily from retail banking, corporate banking, and financial markets business, with retail banking contributing CN¥5.29 billion and financial markets business adding CN¥5.09 billion. Corporate banking accounts for CN¥2.63 billion of the revenue stream. Zhongyuan Bank, a small player in the Asian financial landscape, showcases promising aspects for investors. With total assets of CN¥1,365.2 billion and equity of CN¥100.4 billion, it maintains a solid foundation. The bank's ability to manage risk is evident with 74% of its liabilities sourced from low-risk customer deposits and an appropriate bad loans ratio at 1.9%. Earnings growth last year was impressive at 16.1%, outpacing the industry average of 3.1%. Trading at 20% below its estimated fair value, Zhongyuan offers potential upside for those looking for undervalued opportunities in the sector. Take a closer look at Zhongyuan Bank's potential here in our health report. Gain insights into Zhongyuan Bank's past trends and performance with our Past report. Simply Wall St Value Rating: ★★★★★☆ Overview: Acotec Scientific Holdings Limited is an interventional medical device company that provides vascular interventional treatment products in Mainland China and internationally, with a market capitalization of HK$3.79 billion. Operations: The company generates revenue primarily from its surgical and medical equipment segment, with reported earnings of CN¥533.99 million. Acotec Scientific Holdings, a nimble player in the medical equipment sector, has seen its earnings grow by an impressive 260.9% over the past year, significantly outpacing the industry average of 9.6%. The company is trading at 6.3% below its estimated fair value, suggesting potential undervaluation. Recent product approvals from China's National Medical Products Administration include innovative devices like the Peripheral High-pressure Balloon Dilation Catheter Armoni-HP and AcoArt Verbena for vertebral artery stenosis treatment, which showed a restenosis rate of just 13.04% compared to a control group's 37.31%, indicating strong clinical performance and market potential in China. Delve into the full analysis health report here for a deeper understanding of Acotec Scientific Holdings. Examine Acotec Scientific Holdings' past performance report to understand how it has performed in the past. Simply Wall St Value Rating: ★★★★★★ Overview: Hengbo Holdings Co., Ltd. specializes in the research, development, production, and sale of internal combustion engine air intake systems for automobiles, motorcycles, and general machinery with a market cap of CN¥8.36 billion. Operations: Hengbo Holdings generates revenue primarily from its Auto Parts & Accessories segment, amounting to CN¥896.13 million. Hengbo Holdings, an intriguing player in the Auto Components sector, has shown a robust earnings growth of 16.2% over the past year, surpassing industry averages. The company is debt-free now, a significant improvement from five years ago when its debt-to-equity ratio stood at 67.8%. Recent financials highlight a net income of CNY 131 million for 2024 on sales of CNY 837.95 million, reflecting solid performance with basic earnings per share rising to CNY 1.29 from CNY 1.27 previously. Despite these strengths, Hengbo's share price has been highly volatile recently, which investors should consider carefully. Click here to discover the nuances of Hengbo HoldingsLtd with our detailed analytical health report. Gain insights into Hengbo HoldingsLtd's historical performance by reviewing our past performance report. Unlock our comprehensive list of 2603 Asian Undiscovered Gems With Strong Fundamentals by clicking here. Have a stake in these businesses? Integrate your holdings into Simply Wall St's portfolio for notifications and detailed stock reports. Simply Wall St is a revolutionary app designed for long-term stock investors, it's free and covers every market in the world. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SEHK:1216 SEHK:6669 and SZSE:301225. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
The Citizen
05-07-2025
- Business
- The Citizen
Latest petrol price increase puts SA consumers on backfoot again
With a fuel price increase hot on the heels of increases in rates and taxes in the metros, there seems to be no way out for consumers. The latest petrol price increase puts struggling South African consumers on the backfoot again after a few months of softer fuel prices, which also led to lower inflation as well as lower interest rates. Now geopolitical issues in the Middle East sent the oil price soaring again and South African consumers are paying the price. Hot on the heels of the small decrease in the price of petrol in June this year, the news of a substantial hike in the price of petrol from 2 July came as a shock to motorists across the country. South Africans were counting on a little relief at the pumps in July to ease the financial burden that has driven millions of households to the edge of despair. The July increase pushes the price of 95 Unleaded petrol up by 55 cents to R21.87 per litre and 93 Unleaded up by 52 cents to R21.79, while diesel increases by between 82 and 84 cents per litre. ALSO READ: Motorists warned to brace for hefty petrol price hike from midnight Major geopolitical factors that impacted the department of petroleum and mineral resources decision included the political seesaw that led to the Israel/Iran conflict and spiked the price of Brent crude oil by as much as 13% in the aftermath, leading to increases at the pumps. Thankfully, the rand remained surprisingly resilient in the face of the resultant market turbulence. Fuel price hike on top of increase in rates and taxes As if this is not enough reason to dash any last hope of a respite, Tuesday 1 July marked the start of the municipal financial year when local authorities increase rates and taxes. This means households in major metros across the country will see increases to monthly rates for electricity, water, sanitation, refuse removal and property rates they pay. South Africans can expect above-inflation hikes this year as cities continue to operate under strained conditions and energy experts are warning that households could see their bills shoot up anywhere between 30% and 80%, especially if their consumption is typically low. This is largely due to a new tariff structure being implemented by Eskom, which aims to align prices with the cost of supply and to reduce subsidies. ALSO READ: Here's how to manage household electricity usage as municipal tariff increases kick in Against this grim backdrop, the latest 2025 Energy Market Projections report, compiled by Cresco in collaboration with Standard Bank Corporate and Investment Banking, shows that while load shedding may have taken a backseat temporarily, a new energy crisis is looming if the country fails to build new capacity. According to the report, South Africa is not adding new energy generation capacity fast enough to prevent another severe electricity crisis when Eskom begins decommissioning its coal plants. Behind this is the fact that the country is not increasing its energy supply at a sufficient rate to facilitate faster economic growth, which means that any sharp pickup in activity will result in demand outstripping supply. Living increases force struggling consumers to use credit Neil Roets, CEO of Debt Rescue, warns with no end in sight to the volley of living cost increases, coupled with consumers already cutting back as much as they can, the latest fuel price increase will cut deeply into the little disposable income people still have left, if they have any to spare at all. 'In fact, along with the soaring electricity prices and the municipal rate hikes in July, millions of households will be forced towards financial disaster. This is a red flag that should not be ignored. Along with this, the salaries of South Africans fail to keep up with rising living costs, leading many to turn to debt simply to survive each month and buy the basics they need to survive.' This is echoed by insights from the latest BankservAfrica Take-home Pay Index (BTPI), which tracks approximately 3.8 million salary earners in South Africa. It revealed that the nominal average take-home pay decreased to R17 296 in May 2025, 1.3% lower than the R17 532 registered in April. ALSO READ: Take-home pay slides for third month with grim job opportunities and earnings South Africans can't afford to set money aside Roets points out that this marks a third consecutive month of decline in average nominal take-home pay, reflecting a muted economic environment with stalled growth and global shocks affecting investment decisions and confidence levels. Unsurprisingly, he says, this is also a major contributor to the country's escalating consumer debt crisis, with a recent Debt Rescue survey, conducted to measure the real plight of indebted consumers, showing that half of the participants polled (50%) cannot afford basic necessities like food, electricity, or fuel due to a lack of available funds. A full 50% said they have had to turn to credit to pay for these everyday needs in the past 12 months. Roets says this reflects the vicious cycle of poverty and debt that has become a way of life for millions of South African consumers, seriously impeding their and their families' survival. 'It is a bitter irony that this coincides with National Savings Month, a time meant to promote saving, yet many South Africans can barely cover essentials, let alone set money aside.'
