Cannapany on February 11, 2019 No Comments
The report will be available after the closing bell
Aurora Cannabis (TSE: ACB) finished 2018, and started 2019, strong with several major announcements. It is one of the largest cannabis companies to operate in Canada, but has its eyes on dominating the global market. After the closing bell of the stock markets today, Aurora is planning on releasing its fiscal second-quarter earnings report and all investors are waiting to see what’s in store.
It will be interesting to see if the report lives up to expectations. When Aurora posted its preliminary sales figures for the second fiscal quarter early in January, it forecast a huge future and the company’s stock, traded on the NYSE under the ticker symbol ACB, climbed 42.9%. It added that sales from the last quarter of 2018 would be between $37.6 and $41.36 million, amounting to sales four times greater than what was seen in 2017.
Aurora also said that its production capacity rose from 70,000kg in October to 100,000kg by the end of the year, and that the capacity will increase to 150,000kg before the end of this quarter. If this stays on track, the company is going to be in a great position to see substantial revenue gains this year.
In helping with its international expansion plans, Aurora announced today that it had successfully exported its first batch of cannabis oil to the UK. The oil will be used for cannabis-based medicine and is going to be a huge step in giving Aurora an anchor for additional expansion throughout Europe.
The company’s chief global business development officer, Neil Belot, stated of the deal, “Being one of the first Canadian companies to commercially supply cannabis-based medicines into the UK under the new legal framework reflects Aurora’s ability to do business in international markets that have complex and evolving regulatory systems. Aurora continues to grow its international footprint, which now includes the UK, a country with a population of approximately 66 million people. Regardless of the barriers we may be faced with, we are focused on helping patients around the world get access to the medicine they need.”
Terry Booth, Aurora CEO, will hold an earnings conference call with investors at 6 PM EST tonight. Of significant interest to be investors will be the subject of per-gram expenses, since this is fundamental to turn an operating profit. In addition, how the company plans on utilizing its production capacity is of equal importance to investors.
Congratulation!