Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON), a vertically integrated international cannabis company with operations in five continents, is expected to announce its financial results and host its fiscal full-year and fourth quarter 2018 earnings conference call on Tuesday, March 26th, 2019 before the U.S. and Canadian markets open.
Here’s what existing and prospective Cronos investors need to know…
Cronos Conference Call Details
WHEN: Tuesday, March 26, 2019 at 8:30 A.M. EST
To listen in on Cronos Group’s fiscal Q4 and year-end conference call, a live audio webcast of the earnings call will be available on the company’s website at https://thecronosgroup.com/investor-relations. Participants may also listen via telephone by dialing (866) 795-2258 toll-free from the U.S. and Canada, or (409) 937-8902 if dialing from outside the U.S. and Canada.
If you miss the live call, the call will be archived on the Cronos website for replay.
What to Expect from Cronos’ Earnings
According to Zacks Investment Research, “based on 2 analysts’ forecasts, the consensus EPS forecast for the quarter is $-0.01.” Be forewarned that last quarter, the consensus EPS forecast was $-0.02, and the company reported EPS of $-0.03.
A large portion of its revenues for Q3 fiscal 2018 was attributable to recreational cannabis sales to wholesalers ahead of Canadian adult-use legalization in October. In Q4, investors will certainly be watching to see if recreational sales have been on the rise since then.
No matter what, the biggest thing to happen to Cronos Group at the end of 2018 was the $2.4 billion CAD investment from Marlboro-maker Altria Group, Inc. (NYSE:MO). That said, Jefferies analyst Owen Bennet doesn’t think it will make a difference for the announcement on Tuesday. Bennett wrote in a note to clients in February:
“While historically a solid operator, at present we feel there is little to get really excited about other than the investment and large sum of money from Altria. We also question when Altria value creation will begin to [materialize], especially as there appears little near-term appetite to put the Altria money to work. Against this backdrop we think the market has gotten ahead of itself.”
There is officially less than 24 hours left until Cronos Group’s Q4 and fiscal year-end 2018 earnings are released. In the meantime, be sure to subscribe to updates here so you never miss an important development.
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