Top Cannabis Companies In March 2022
In March the cannabis sector is reporting earnings which could be a catalyst for top marijuana stocks to buy in 2022. At the present time, with the cannabis sector reaching new lows to start 2022 cannabis stocks could have some potential upside from current trading levels. In general, US cannabis companies have continued to expand rapidly in 2021. In addition, they have become the largest revenue-producing cannabis company globally. Let’s look at 4 top cannabis companies and ancillary companies to watch as they report financial results this week in March.
Best Marijuana Stocks To Watch During March Earnings Reports
- Green Thumb Industries Inc. (OTC: GTBIF)
- Curaleaf Holdings, Inc. (OTC: CURLF)
- Village Farms International, Inc. (NASDAQ: VFF)
- GrowGeneration Corp. (NASDAQ: GRWG)
Green Thumb Industries Inc.
Green Thumb Industries Inc. is a major player in the cannabis consumer packaged goods (CPG) industry in the United States. The company presently has 75 locations throughout 15 states, one of which is in New Jersey. GTI currently has 111 retail licenses and plans to expand. GTI established a Cookies on the Las Vegas Strip in 2021 as part of a one-of-a-kind arrangement with the privately held Cookies Brand. Green Thumb has announced its entry into the Virginia cannabis market, after the completion of its acquisition of Dharma Pharmaceuticals. The company acquired Leafline Industries, providing them access to the Minnesota market.
Earlier this morning Green Thumb reported its fourth quarter and full-year 2021 results with revenue of $243.6 million up 37.4% year over year. In fact, this marks the sixth consecutive quarter of positive GAAP net income delivering $22.8 million or $0.10 per share. The company’s adjusted EBITDA was $76 million or 31.2% of revenue. Full-year 2021 revenue was $893.6 million up 60.5% year over year. Yearly GAAP net income came in at $75.4 million or $0.34 per share.
Words From The CEO
“We continue to keep our heads down while focused on executing the business plan. I want to express our gratitude and appreciation to our team, customers, and communities who continue to support us and position us well for the future. Everything we have accomplished in 2021 was specifically designed to build long-term value for all of our stakeholders. Cannabis is a complex business, but you can rely on us to continue our Enter, Open, Scale strategy to drive value.”
Green Thumb Founder and Chief Executive Officer Ben Kovler
Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc., a multi-state cannabis retailer with 113 retail locations in the United States, sells packaged cannabis products. Adven GmbH, a wholly-owned subsidiary of Curaleaf International, has begun operations in Germany, giving access to therapeutic cannabis products. Curaleaf’s Select brand is one of the most well-known in the United States. Curaleaf extended its operations to three more states after purchasing Tryke Companies in November. The company’s current portfolio includes properties in Arizona, Nevada, and Utah. Curaleaf’s partnership with B Noble has expanded to ten states, including New York’s medical industry.
In November, Curaleaf reported $317 million in sales for the third quarter of 2021, up 74 percent year over year. The year’s adjusted EBITDA was $71 million, up 69 percent over the previous year. In Q3 2021, Curaleaf’s cash flow from operations was $52 million, or 16% of revenue. As a result, total cannabis sales revenue surged by 61% year over year to $144 million in Q3 2021. Los Suenos Farms was also acquired, bringing the total cultivation capacity of the corporation to 4.4 million square miles. After the market closes on March 3rd, the company will release its Q4 and fiscal year-end 2021 earnings.
Village Farms International, Inc.
In North America, Village Farms International, Inc. and its subsidiaries cultivate, sell, and distribute greenhouse-grown tomatoes, bell peppers, and cucumbers. Furthermore, the cannabis and CBD activities of the corporation are centered in Canada and the United States. Pure Sunfarms, a wholly-owned subsidiary of Village Farms, is one of the largest cannabis companies in North America. Pure Sunfarms has been granted a cannabis production license for a delta 2 greenhouse, increasing its output capacity by 50%. Earlier this year, Village Farms unveiled a new corporate identity as well as a new website, www.villagefarms.com.
In November, Village Farm announced its third-quarter results for 2021, while Pure Sunfarms reported another record-breaking quarter. Balanced Health Botanicals was responsible for $3.8 million of the $31.2 million in marijuana sales, while Pure Sunfarms was responsible for $27.4 million. These two businesses accounted for 43 percent of Village Farms’ total revenue. The company stated on November 15th that it has acquired 70% of ROSE LifeScience, a Quebec-based company. With a concentration on Quebec, ROSE is a vertically integrated, branded, and the third-party provider. Before the market opens on March 1st, the company will release its fourth-quarter and full-year financial results for 2021.
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In the United States, GrowGeneration Corp. is a well-known retail hydroponic and organic gardening business owner and operator. Organics, lighting, and hydroponic equipment are just a few of the goods sold to cannabis producers by the company. GrowGen presently operates 63 organic garden centers around the country. Since the introduction of GrowGeneration.com, the company has focused on its internet presence. With over 10,000 products ranging from nutrition to lighting technology, the website has developed into a one-stop e-commerce destination. During the next five years, the business plans to open over 100 sites around the United States. During the third quarter, the company announced the opening of Los Angeles County’s largest hydroponic garden facility.
On January 13th, GrowGen released its fourth-quarter and full-year sales forecasts, forecasting record revenue in 2021. Overall, revenue for the year was $420-$422 million, a 118 percent increase over the previous year. Additionally, same-store sales grew by $24.4 in 2021. After the closing on March 1st, the company will announce its fourth-quarter and full-year 2021 financials.