Grown Rogue Cannabis Reports Record Q2 Revenue And Adjusted EBITDA, NJ And Illinois Major Growth Drivers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 27 2024
0mins
Source: Benzinga
Q2 2024 Financial Results: Grown Rogue International reported a revenue of $7.7 million for Q2 2024, a 23% increase from the previous year, with a positive adjusted EBITDA of $2.5 million; however, the company faced a net loss of $7.6 million compared to a profit in the same period last year.
Expansion Plans: The company is focusing on growth in New Jersey and Illinois, expecting sales in New Jersey by Q4 2024 and targeting sales in Illinois by the second half of 2025, supported by a partnership aimed at enhancing the craft cannabis market.
Analyst Views on GRIN
Wall Street analysts forecast GRIN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GRIN is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
0 Buy
0 Hold
0 Sell
Current: 29.305
Low
Averages
High
Current: 29.305
Low
Averages
High
No data
About GRIN
Grindrod Shipping Holdings Ltd. is a Singapore-based shipping company that owns, charters-in and operates a fleet of drybulk carriers. The Company operates the drybulk carriers’ business, which is divided into three segments: Handysize, Supramax/Ultramax, and Others. The drybulk business, which operates under the brand Island View Shipping (IVS), includes a core fleet of approximately 29 vessels, consisting of 14 handysize drybulk carriers and 15 supramax/ultramax drybulk carriers. Its drybulk carriers transport a range of major and minor bulk and breakbulk commodities, including ores, coal, grains, forestry products, steel products, and fertilizers, along worldwide shipping routes and are employed in pools of similarly sized vessels or in the spot market. Its subsidiaries include Comshipco Schiffahrtsagentur GmBH, Grindrod Shipping Pte. Ltd., Grindrod Shipping Services UK Limited, Grindrod Shipping (South Africa) (Pty) Ltd, IM Shipping Pte. Ltd., and IVS Bulk Pte. Ltd., among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
