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Cannabis operator Jushi Holdings' Q3 revenue rises 7%, driven by wholesale strength

By Reuters News


Overview

  • US cannabis operator's Q3 revenue rose 7% yr/yr to $70.5 mln

  • Wholesale revenue up 40% yr/yr, setting second consecutive quarterly record

  • Company posted net loss of $12.5 mln, narrowing from prior year


Outlook

  • Jushi says Virginia is its most significant near-term growth opportunity as adult-use sales approach

  • Company is advancing cultivation and processing projects in Virginia ahead of adult-use market opening

  • Jushi says investment decisions will be guided by regulatory timing and financing availability


Result Drivers

  • WHOLESALE GROWTH - Co said wholesale revenue rose 40% yr/yr to $9.7 mln, driven by improved product quality, higher production volumes, and broader distribution

  • RETAIL EXPANSION - Retail revenue increased 3.5% yr/yr to $60.8 mln, led by Ohio and Virginia, with higher unit sales and new dispensaries contributing

  • PRICING PRESSURE - Co said lower average selling prices due to competitive pricing and promotions partially offset revenue gains


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$70.5 mln

Q3 Net Loss

$12.5 mln

Q3 Operating Expenses

$28.8 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • Wall Street's median 12-month price target for Jushi Holdings Inc is $1.50, about 193% above its October 27 closing price of $0.51


Reuters Recommended Reads

  • Oct 26 - Alliance Resource Partners Q3 profit jumps on record royalty revenues

  • Oct 27 - Enphase Energy Q3 results miss estimates on weak US, Europe demand

  • Oct 26 - Medifast Q3 revenue falls on fewer active earning coaches


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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