MSOs Cannabis ETF Manager Weighs In On Green Thumb Industries, Trulieve & Cresco Labs Post Earnings

After an earnings-heavy week, where many of the largest cannabis companies reported their quarterly results, Benzinga caught up with Dan Ahrens, portfolio manager of the AdvisorShares Pure US Cannabis ETF (NYSE: MSOS) and the AdvisorShares Pure Cannabis ETF (NYSE: YOLO).

Following their respective earnings releases, Ahrens shared his thoughts on Green Thumb Industries (OTC: GTBIF), Trulieve (OTC: TCNNF) and Cresco Labs (OTC: CRLBF).

Check out his comments below:

Green Thumb Industries released earnings after the close on 8/11.

  • Absolute blowout earnings exceeding almost all analyst expectations, which were already very aggressive overall.
  • Rapidly growing sales and revenue, profitability and a strong cash balance sheet. All quite different than better know Canadian cannabis companies as a group, which released mediocre earnings in the past two weeks.
  • Green Thumb is easily the #1 holding in MSOs, AdvisorShares Pure US Cannabis ETF.
  • It's not the largest cannabis multi-state operator (MSO) in the United States, but hand-selected by AdvisorShares to be #1 since the fund is actively managed.

Highlights:

  • Revenue increased 14.1% sequentially and 85.4% year-over-year to $221.87 million. (a beat of analyst avg. by $15.24 M)
  • consecutive quarter of positive GAAP net income of $22.1 million
  • EPS of $0.10 beats by $0.02
  • Sixth consecutive quarter of positive cash flow from operations
  • As of June 30, 2021, cash and equivalents of $359.3 million on …

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