Latest news with #Marcum
National Post
14 hours ago
- 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
14 hours ago
- Business
- Yahoo
Cresco Labs Announces Change of Auditor
CHICAGO, June 12, 2025--(BUSINESS WIRE)--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. 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. "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. 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+. 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. 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. View source version on Contacts Media Press@ Investors TJ Cole, Cresco LabsSVP, Corporate Development & Investor Relationsinvestors@ For general Cresco Labs inquiries: 312-929-0993info@ Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
Business Wire
15 hours ago
- Business
- Business Wire
Cresco Labs Announces Change of Auditor
CHICAGO--(BUSINESS WIRE)--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. 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. '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. 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+. 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. 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
12-05-2025
- Business
- Yahoo
CBZ Q1 Earnings Call: Revenue Misses Expectations as Integration and Economic Headwinds Shape Outlook
Financial services provider CBIZ (NYSE:CBZ) fell short of the market's revenue expectations in Q1 CY2025, but sales rose 69.5% year on year to $838 million. The company's full-year revenue guidance of $2.88 billion at the midpoint came in 1.6% below analysts' estimates. Its non-GAAP profit of $2.29 per share was 8.7% above analysts' consensus estimates. Is now the time to buy CBZ? Find out in our full research report (it's free). Revenue: $838 million vs analyst estimates of $860.2 million (69.5% year-on-year growth, 2.6% miss) Adjusted EPS: $2.29 vs analyst estimates of $2.11 (8.7% beat) Adjusted EBITDA: $237.6 million vs analyst estimates of $219.5 million (28.4% margin, 8.3% beat) The company dropped its revenue guidance for the full year to $2.88 billion at the midpoint from $2.93 billion, a 1.7% decrease Management reiterated its full-year Adjusted EPS guidance of $3.63 at the midpoint EBITDA guidance for the full year is $453 million at the midpoint, in line with analyst expectations Operating Margin: 23.9%, up from 22.1% in the same quarter last year Free Cash Flow was -$93.23 million compared to -$68.84 million in the same quarter last year Market Capitalization: $3.87 billion CBIZ's first quarter results were shaped by the integration of its recent Marcum acquisition, ongoing macroeconomic uncertainty, and a shifting mix between recurring and project-based services. Management emphasized that essential, recurring services—especially in core accounting, tax, and benefits—remained stable, while more discretionary, project-based advisory services saw softness. CEO Jerry Grisko noted that government healthcare consulting and benefits and insurance businesses were bright spots, helping offset declines in areas affected by lower capital markets activity and client conflicts related to the merger. Looking ahead, CBIZ widened its full-year revenue outlook, citing persistent economic and geopolitical uncertainty and limited visibility into demand for nonrecurring services. Management maintained its adjusted earnings guidance, pointing to flexibility in cost management and the advantages of a variable expense model. CFO Brad Lakhia highlighted the company's ability to adjust compensation and discretionary spending in response to top-line pressures, while also focusing on completing the Marcum integration and executing technology system upgrades that are expected to support future growth. Revenue growth in the first quarter was primarily driven by the Marcum acquisition, with recurring service lines performing as expected and project-based services experiencing pressure from economic and industry-specific factors. Management provided additional context on integration progress and the evolving business environment: Integration Progress on Track: The Marcum acquisition is proceeding according to plan, with collaborative teams and a focus on unifying technology systems. This integration is expected to drive operational improvements and unlock new revenue synergies over time. Recurring Service Stability: Essential compliance services in accounting, tax, and benefits continued to deliver mid-single-digit growth, according to internal analysis. These areas make up roughly 77% of total services and provide resilience against broader market volatility. Project-Based Softness: Discretionary and project-based advisory services—comprising about 23% of revenue—were impacted by lower capital markets activity and reduced deal flow, particularly in private equity and SEC-related audit work. Management attributed this to unpredictable economic and geopolitical conditions. Government Healthcare Consulting Strength: The government healthcare consulting division posted strong growth and expanded its project pipeline, benefiting from increased demand for compliance and cost containment services among state clients. Client Conflicts and Revenue Impact: Some anticipated client losses occurred due to conflicts arising from the merger, particularly in healthcare and capital markets practices. These factors, along with the wind-down of legacy Marcum SPAC-related work, contributed to revenue softness but were largely expected and factored into internal models. Management expects continued uncertainty in demand for nonrecurring services to weigh on near-term revenue, while cost controls and integration initiatives support profitability. Economic Environment Remains Uncertain: Management believes that persistent macroeconomic and geopolitical unpredictability will continue to affect project-based advisory revenue, making forecasting challenging for the remainder of the year. Cost Flexibility Supports Margins: The company's variable compensation structure and discretionary expense controls provide levers to manage earnings even if revenue growth slows. Management indicated this flexibility will be important to maintaining profitability targets. Integration Synergies and Technology Upgrades: Ongoing integration of Marcum and investments in unified technology platforms are expected to drive operational efficiencies and create cross-selling opportunities, which management sees as critical for future growth and margin expansion. Christopher Moore (CJS Securities): Asked which project-based service lines are most vulnerable to falling to the low end of guidance; management cited capital markets and private equity deal-related work as the main areas of risk. Andrew Nicholas (William Blair): Requested detail on how CBIZ will offset top-line softness while maintaining earnings guidance; executives pointed to compensation flexibility and lower discretionary spending as primary levers. Marc Riddick (Sidoti): Inquired about the timing and scope of client losses from conflicts post-acquisition; management confirmed most have already occurred and were within expectations. Andrew Nicholas (William Blair): Asked about capital allocation priorities in light of higher leverage; CFO Brad Lakhia said debt reduction is the top focus, but the company will remain opportunistic with M&A and share repurchases. Marc Riddick (Sidoti): Queried about pricing trends and the risk of rate pressures; CEO Jerry Grisko reported positive pricing trends in Q1 but acknowledged potential downward pressure if the environment worsens. In the quarters ahead, the StockStory team will be monitoring (1) the pace and success of Marcum integration efforts, particularly the rollout of unified technology systems; (2) the stability of core recurring revenue streams amid broader market headwinds; and (3) any recovery in project-based advisory services tied to improved economic clarity and capital markets activity. Progress on cost containment and realization of anticipated integration synergies will also be important indicators for the company's trajectory. CBIZ currently trades at a forward P/E ratio of 19×. In the wake of earnings, is it a buy or sell? Find out in our free research report. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today.
Yahoo
25-04-2025
- Yahoo
Priceville police arrest three Indiana suspects for trafficking meth and fentanyl
Apr. 25—Three men from Indiana were arrested Wednesday night after a traffic stop uncovered trafficking amounts of methamphetamine and fentanyl, and one suspect was found to have a felony warrant in another state, according to the Priceville Police Department. At approximately 9:35 p.m., police conducted a traffic stop on a southbound vehicle on Interstate 65 and made contact with three occupants. Authorities said William Bradley Ellis, 35, of Indianapolis, was wanted on a felony warrant out of Illinois, which called for nationwide extradition. After detaining Ellis, police said their K-9 alerted them to the presence of narcotics inside the vehicle, prompting a further investigation. Police said methamphetamine, fentanyl, crack cocaine and drug paraphernalia were discovered inside the vehicle. Jason Edward Marcum, 42, of Shelbyville, Indiana, and Roger Lee Weaver, 60, of Indianapolis — the other two occupants — were also arrested. All three suspects were transported to Morgan County Jail, according to the Priceville Police Department. While being booked, police said they found additional drug paraphernalia on Marcum. According to Priceville police, Ellis faces charges of drug trafficking, unlawful possession of a controlled substance with intent to distribute, unlawful possession of a controlled substance, operating a vehicle with a secret compartment, felon in possession of a firearm, possession of brass knuckles, and unlawful possession of drug paraphernalia. He was held in lieu of a $470,000 bond, and a detainer was placed on him by Illinois authorities. Priceville police also reported that Weaver was charged with drug trafficking, unlawful possession of a controlled substance with intent to distribute, unlawful possession of a controlled substance (two counts), tampering with physical evidence, and unlawful possession of drug paraphernalia. He was held in lieu of a $465,000 bond. Marcum was charged with drug trafficking, unlawful possession of a controlled substance with intent to distribute, unlawful possession of a controlled substance, unlawful possession of drug paraphernalia, and promoting prison contraband in the second degree, according to Priceville police. He was held in lieu of a $405,000 bond. — or 256-340-2442.
