Tallahassee, Florida-based cannabis producer and retailer Trulieve Cannabis Corp. (CSE: TRUL) just announced financial results for Q4 of 2018. Management also gave guidance on its future revenue, predicting revenue will more than double in 2019 to $214 million, a gain of roughly 108%.
Wow, that is a fantastic prediction for any investor to hear.
Trulieve is already the revenue leader among public US cannabis companies, slightly ahead of Curaleaf and Medmen. Only Canada’s Canopy Growth and Aurora Cannabis currently lead these companies in quarterly revenue.
Trulieve’s revenue was $35.9 million in Q4 2018, up from $28.3 million in Q3 2018, a 21% increase. Its full-year revenue was $103 million, up a whopping 419% from 2017.
Despite these impressive gains and predictions however, its stock dipped 4% on the news, indicating that investors had expected slightly more. While this is a bummer on the face of it, it is not unusual in the cannabis industry, because investors have very high expectations.
And it’s not a very bad result, either, given the stock is still up an impressive 18% in the month. It does, however, show that investors need to know what to expect when buying cannabis stocks.
And the team at Cannin has a solid track record of predicting long term winners in the Cannabis Industry.
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More on Trulieve
We are actually pretty bullish on Trulieve in the long term. It is a vertically integrated "seed-to-sale" company, the largest fully licensed medical cannabis company in Florida. It cultivates and produces all of its products in-house and distributes them to Trulieve-branded dispensaries throughout Florida, and sells directly to patients via home delivery. It also operates in California and Massachusetts.
And it’s valuation is reasonable for the long term.
Do not miss our full company report on Trulieve, coming soon. It’s a must buy for an honest perspective on this company.
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Source Trulieve press release