Latest news with #CrescoLabs
National Post
20 hours ago
- Business
- National Post
Cresco Labs to Report Second Quarter 2025 Financial Results on August 7, 2025
Article content CHICAGO — Cresco Labs Inc. (CSE:CL) (OTCQX:CRLBF) (FSE: 6CQ) ('Cresco' or 'Company'), the industry leader in branded cannabis products with a portfolio of America's most popular brands and the operator of Sunnyside dispensaries, today announced it will report financial results for the second quarter ended June 30 th, 2025 on Thursday, August 7, 2025 before the market opens. Article content The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights. Article content Date Article content : Thursday, August 7, 2025 Article content Article content Time Article content : 8:30 am ET Article content Article content Webcast: Article content LINK Article content Article content Conference Call Registration: Article content LINK Article content Article content Dial-in Article content Archived access to the webcast will be available for one year on the Cresco Labs investor relations website. 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. Article content Article content Article content Contacts Article content Media Article content Article content press@ Article content Investors Article content Article content Article content Article content
Yahoo
21 hours ago
- Business
- Yahoo
Cresco Labs to Report Second Quarter 2025 Financial Results on August 7, 2025
CHICAGO, July 17, 2025--(BUSINESS WIRE)--Cresco Labs Inc. (CSE:CL) (OTCQX:CRLBF) (FSE: 6CQ) ("Cresco" or "Company"), the industry leader in branded cannabis products with a portfolio of America's most popular brands and the operator of Sunnyside dispensaries, today announced it will report financial results for the second quarter ended June 30th, 2025 on Thursday, August 7, 2025 before the market opens. The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights. Event: Cresco Labs Second Quarter 2025 Earnings Conference CallDate: Thursday, August 7, 2025Time: 8:30 am ETWebcast: LINK Conference Call Registration: LINK Dial-in: 1-833-470-1428 (US Toll Free), 1-404-975-4839 (US Local)Access Code: 158138 Archived access to the webcast will be available for one year on the Cresco Labs investor relations website. 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. View source version on Contacts Media press@ Investors investors@ General Inquiries 312-929-0993info@
Business Wire
21 hours ago
- Business
- Business Wire
Cresco Labs to Report Second Quarter 2025 Financial Results on August 7, 2025
CHICAGO--(BUSINESS WIRE)-- Cresco Labs Inc. (CSE:CL) (OTCQX:CRLBF) (FSE: 6CQ) ('Cresco' or 'Company'), the industry leader in branded cannabis products with a portfolio of America's most popular brands and the operator of Sunnyside dispensaries, today announced it will report financial results for the second quarter ended June 30 th, 2025 on Thursday, August 7, 2025 before the market opens. The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights. Event: Cresco Labs Second Quarter 2025 Earnings Conference Call Date: Thursday, August 7, 2025 Time: 8:30 am ET Webcast: LINK Conference Call Registration: LINK Dial-in: 1-833-470-1428 (US Toll Free), 1-404-975-4839 (US Local) Access Code: 158138 Archived access to the webcast will be available for one year on the Cresco Labs investor relations website. 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.
National Post
12-06-2025
- Business
- National Post
Cresco Labs Announces Change of Auditor
Article content CHICAGO — Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) (FSE: 6CQ) (' Cresco Labs ' or the ' Company '), today announced it has changed its auditor from Marcum LLP (' Marcum ') to Baker Tilly US, LLP (' Baker Tilly '). Cresco will seek shareholder ratification of Baker Tilly's appointment at the next annual meeting of shareholders. Article content Marcum was terminated as the Company's auditor effective June 9, 2025, and Baker Tilly has been appointed as successor auditor effective June 12, 2025. The change in auditor was recommended and approved by the Company's audit committee and board of directors (the ' Board '), respectively. Article content 'After an extensive three-month selection process, we are thrilled to appoint Baker Tilly as our independent auditor,' said Sharon Schuler, CFO. 'With the approval of our Board of Directors, Baker Tilly will begin their engagement with the review of our Q2 2025 financial statements. We are confident in their expertise and look forward to a collaborative partnership as we continue to maintain the highest standards of financial transparency and regulatory compliance.' There were no modified opinions in Marcum's audit reports for any financial period during which Marcum was the Company's auditor. There are no 'reportable events' (as such term is defined in National Instrument 51-102 Continuous Disclosure Obligations ('NI 51-102')) between the Company and Marcum. Article content In accordance with NI 51-102, the change of auditor notice, together with the required letters from the Marcum and Baker Tilly, have been reviewed and approved, as applicable, by the Board and have been filed on SEDAR+. Article content About Cresco Labs Inc. Article content 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. Article content Forward-Looking Statements Article content 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. 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. Article content Article content Article content Article content Article content Contacts Article content Media Article content Article content Press@ Article content Investors Article content Article content TJ Cole, Cresco Labs Article content Article content 312-929-0993 Article content Article content Article content
Yahoo
03-06-2025
- Business
- Yahoo
Cresco Labs Inc (CRLBF) Q1 2025 Earnings Call Highlights: Strategic Expansion Amid Revenue ...
Revenue: $166 million for Q1 2025. Adjusted Gross Profit: $82 million. Adjusted EBITDA: $36 million, representing 22% of revenue. Operating Cash Flow: $30 million generated in Q1. Ending Cash Balance: $162 million, highest in the past three years. Adjusted Gross Margin: 49%, down 20 basis points sequentially. Adjusted SG&A: Reduced by just under $1 million to $53 million. Free Cash Flow: $25 million after $6 million in CapEx. Retail Revenue: Down 5% from Q4 due to seasonality and competition. Wholesale Revenue: Declined sequentially due to limiting sales to accounts with credit risk. Dispensary Expansion: Opened 18th dispensary in Pennsylvania; planning new openings in Ohio and Kentucky. Market Share: Retained number one market share in Illinois and Pennsylvania. Customer Retention: Over 60% with nearly 400,000 active rewards program members. Warning! GuruFocus has detected 3 Warning Signs with CRLBF. Release Date: June 02, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Cresco Labs Inc (CRLBF) reported $166 million in revenue for Q1 2025, in line with guidance. The company generated $82 million in adjusted gross profit and $36 million in adjusted EBITDA. Cresco Labs Inc (CRLBF) achieved $30 million in operating cash flow, ending the quarter with $162 million in cash, the highest balance in three years. The company is expanding its footprint strategically, focusing on high-margin growth states like Pennsylvania and Ohio. Cresco Labs Inc (CRLBF) maintains a leading position in branded wholesale products, retaining the number one market share in Illinois and Pennsylvania. The company experienced a 5% decline in total retail revenue from Q4, driven by seasonality and competition in Illinois. Wholesale revenue declined sequentially due to volume decreases and a strategic decision to limit sales to accounts with credit risk. Adjusted gross margin for the quarter was 49%, down 20 basis points sequentially. Cresco Labs Inc (CRLBF) expects revenue to be down slightly in Q2 due to Illinois' mandatory seed-to-sale system conversion. The company anticipates margin pressure in Q2, further amplified by the Illinois state conversion process. Q: Can you discuss the outlook for pricing pressure and how Cresco Labs views long-term pricing trends in different market structures? A: Charles Bachtell, CEO, explained that each market is different, and there's a common curve when states transition from medical to adult use. In major markets like Illinois, there is still pricing pressure, but as prices compress, demand tends to increase. Cresco Labs is preparing for this opportunity by bringing additional capacity online in states like Illinois and Pennsylvania. Q: How has the management of accounts receivable (AR) risk impacted wholesale revenue, and what is the current status of accounts at risk? A: Charles Bachtell, CEO, stated that managing AR risk is crucial for ensuring high-quality revenue. This has led to shutting down some accounts and establishing workout plans with others. The team has successfully reduced AR over the last quarter and brought some accounts back online. Q: Are there specific markets where wholesale account issues are more pronounced? A: Charles Bachtell, CEO, noted that AR management varies by market and includes multistate operators. Markets like California and Michigan experienced these issues earlier, but they are now appearing in states like Illinois, Ohio, and Massachusetts. Greg Butler, President, added that retailers are choosing brands with the best velocities and profits, ensuring Cresco Labs' brands remain essential. Q: What is Cresco Labs' strategy regarding international markets, such as Germany? A: Charles Bachtell, CEO, mentioned that Cresco Labs is in the learning phase regarding international opportunities. They are evaluating these markets similarly to how they assess new U.S. markets, focusing on positioning themselves as a long-term cannabinoid-based company. Q: Can you provide an update on the seed-to-sale system conversion in Illinois and its impact on sales? A: Charles Bachtell, CEO, confirmed that the conversion began in early June, causing a pullback in purchasing in May. They expect sales to rebound post-conversion, although it's uncertain if there will be an overcompensation for the lost purchasing during the transition. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. 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
