The Daily Hit: July 27, 2021


It’s time for your Daily hit of cannabis financial news for July 27, 2021. On the Site RWB Last week, Red White & Bloom Brands Inc. (OTCQX: RWBYF) delivered its fourth-quarter and full-year results, and today the company has delivered its first-quarter financial results. RWB said that the revenue for the first quarter was $11.8 million which fell from the fourth quarter’s revenue of $15.7 million. The company blamed the decrease as a result of the manner in which it recognizes revenue under IFRS in the state of Michigan for its Platinum Vape branded product sales and a decrease of approximately $1 million due to the strengthening Canadian dollar over the fourth quarter. Turning Point Turning Point Brands, Inc. (NYSE: TPB) reported financial results for the second quarter ended June 30, 2021 with sales increasing 16.8% to $122.6 million. The average analyst estimate for revenues was $106 million according to Yahoo Finance. Net income increased by 49.2% to $15.4 million. The diluted EPS was $0.73 and adjusted diluted EPS was $0.84 as compared to $0.49 and $0.66 in the same period one year ago. This beat the Yahoo Finance average analyst estimate of $0.65. Bluebird CBD company Bluebird Botanicals has acquired Precision Botanical, a science-driven CBD brand that is committed to providing purity, accuracy, and transparency for all of its CBD products. In addition to the acquisition, Bluebird has received a growth investment from Juggernaut Capital Partners, a lower middle-market private equity firm specializing in buyout and growth investments across the consumer and outsourced healthcare services industries. Bluebird said that Juggernaut’s investment will strengthen the combined company’s financial profile and provide it with the resources to fuel further innovation in the CBD space, accelerate growth online, and assist future expansion into new channels. Morningstar In Morningstar’s report from June titled…

Excerpt only …
Source : The Daily Hit: July 27, 2021

reposted by Cannabis News World

This site uses Akismet to reduce spam. Learn how your comment data is processed.