Aurora Cannabis earnings claim it sold about a fifth of Canada’s legal pot in opening quarter
Aurora Cannabis Inc. sold about one-fifth of Canada’s recreational marijuana in the first quarter of legal availability, the company said Monday. The company’s shares were up less than 1% in after-hours trading following the release Monday afternoon. Aurora reported a fiscal second-quarter loss of C$237.8 million on revenue of C$54.2 million, with the large losses reflecting a sharp decline in Aurora’s investments in other pot companies. Not enough analysts track Aurora to produce a solid consensus; shares declined after the company said in January that it expected quarterly revenue would be C$50 million to C$55 million. Last year in the fiscal second quarter, Aurora reported earnings of C$7.7 million on revenue of C$11.7 million. That was before legal recreational weed was available in Canada, though: The fiscal second quarter reported includes the Oct. 17 launch of marijuana sales through the end of the year. “Based on available data released by Health Canada for the Q2 2019 period, Aurora accounted for approximately 20% of all consumer sales across the country,” the company stated in Monday’s release. Aurora shares closed with a 5.5% decline at $7.17 Monday, but have gained 57.8% in the past six months, as the S&P 500 index has declined 4.4%.
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