3 Key Factors Behind Canopy Growth's Blowout Q3 Results

Canopy Growth (NYSE: CGC) just delivered its biggest quarterly surprise in quite a while. The Canadian cannabis producer reported fiscal 2020 third-quarter results before the market opened on Friday and surpassed expectations across the board.

Analysts looked for Canopy to post Q2 net revenue of 105.4 million in Canadian dollars. Canopy's actual net revenue totaled CA$123.8 million. Analysts expected an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss of CA$110 million. Canopy reported an adjusted EBITDA loss of CA$91.7 million.

Perhaps most importantly, Canopy's financial metrics are trending in the right direction. But how did the company deliver such positive results while its primary rival, Aurora Cannabis (NYSE: ACB), posted dismal results on Thursday from its latest quarter? Here are three key factors behind Canopy's blowout Q3 results.

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Source Fool.com