FLGC Earnings Prediction
The chart below shows how FLGC performed 10 days before and after its earnings report, based on data from the past quarters. Typically, FLGC sees a +17.24% change in stock price 10 days leading up to the earnings, and a +5.84% change 10 days following the report. On the earnings day itself, the stock moves by -0.18%. This data can give you a slight idea of what to expect for the next quarter's release.
FLGC Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
21.46M
139.96%
11.08%
Gross Margin
14.38%
-50.79%
-38.02%
Operating Margin
-23.86%
-63.64%
94.46%
Net Margin
-172.37%
-33.13%
945.30%
EPS
-6.58
-2.49%
1034.48%
No Data Available
FLGC Earnings Analysis
Flora Growth Corp. Corporation (FLGC.O) Earnings Conference Call
Positive
Flora Growth Corp reported an increase in revenues by 140% in the second quarter of 2023 compared to the same period in 2022, reaching $21.5 million.
This growth was driven by the full-period results inclusion of Phatebo and Just Brands, acquired in December 2022 and February 2022, respectively.
The company's gross profit for the second quarter of 2023 was $4.0 million, signifying an increase of 19% compared to the second quarter of 2022.
In the first half of 2023, the gross profit amounted to $9.3 million, showcasing a 68% year-over-year increase.
Flora Growth Corp implemented cost-saving measures resulting in $6.1 million in savings which include a significant reduction in corporate overhead.
The company has reorganized its team to be lean, agile, and fit for purpose, maintaining operational efficiency while reducing costs.
Just Brands, operating in all 50 states and 21 countries with over 20,000 distribution points globally, formed an exclusive partnership with Hulk Hogan to produce and sell branded products.
This partnership is expected to be accretive to Flora and includes collaborations with other well-known brands such as TYSON 2.0 and Ric Flair Drip, signaling a robust growth strategy.
Vessel, the leading brand of consumer technology including vape pens and accessories, anticipates significant growth in the coming quarters.
The premium quality of Vessel products and high loyalty factor bodes well for sustained growth and market penetration.
Flora Growth Corp anticipates further partnerships with celebrities and entertainers in the near future, leveraging the success of the exclusive worldwide partnership with Hulk Hogan.
Expanding collaborations with influential personalities is expected to enhance brand visibility and drive sales growth.
Negative
- The net loss for the quarter was $44.6 million primarily due to impairment expenses, loss from discontinued operations, and non-cash expenses.
- Company had to divest its Colombian operations due to underperformance and implemented $6.1 million cost savings including significant reduction in corporate overhead.
- The global financial market downturn, particularly in the cannabis sector, continues to pose challenges for the industry.
- The results for the quarter and year-to-date do not reflect the benefits of the reduced cost profile expected in the upcoming quarters.
- Plans to prioritize liquidity and obtain additional financing due to recent market shifts and economic conditions.
