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

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

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

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(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.)