Why Investors Were High on Trulieve Cannabis Stock Today
Key Points
The pot company coughed out its third-quarter results before market open.
It didn't do too badly, essentially meeting analyst estimates and reporting a healthy increase in loyalty program membership.
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Trulieve Cannabis (OTC: TCNNF) reported its third-quarter results Wednesday morning, and its performance provided sufficient fuel for guarded optimism from investors. Collectively, they reacted by pushing the marijuana stock's price more than 2% higher that trading session, beating the S&P 500's (SNPINDEX: ^GSPC) 0.4% advance.
A modest buzz
For the quarter, Trulieve's revenue came in at $288 million, which was a slight (1%) improvement over the same period of 2024. The company's net loss not according to generally accepted accounting principles, or GAAP, stayed essentially level at $12 million ($0.07 per share).
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Both headline metrics were roughly in line with the average analyst projections.
Operationally speaking, events for Trulieve during the quarter pointed to several potential sources of growth. It said that the membership rolls of its proprietary rewards program reached 820,000 souls at the end of September, and it seems many of those folks are loyal customers that keep coming back -- 77% of total company transactions came from them.
Same as it ever was
While those developments are potentially quite beneficial, Trulieve remains habitually loss-making on the bottom line, and that top line isn't moving much. The only market mover that's going to make a difference is de facto U.S. legalization at the federal level, and while that's probably inevitable, the nation's politicians are slow-walking any steps toward weed law reform.
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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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