reports
- Jesse Redmond
Margins Improvements Drive AEBITDA Gains
Jushi reported 1Q24 revenue of $65.5 million, which was just below consensus of $65.9 million. This represents a decline of 3.4% sequentially and 6.3% Y/Y. The Q/Q revenue decline was driven by fewer days in February, a drop in post-holiday spending, and weather-related closures. During the quarter, Jushi opened one new store in Mount Pocono, its 17th Beyond Hello dispensary in Pennsylvania. Gross margin was 49.4%, an improvement of 9.3% sequentially and 6.5% Y/Y. Margin expansion was helped b...
- Jesse Redmond
Beats on Revenue and AEBITDA; Catalysts Loom
Jushi reported 4Q23 revenue of $67.8 million, which was ahead of consensus of $65.4 million. This represents a 3.7% increase Q/Q and 11.7% decline Y/Y. Gross margins were 40.1%, a decline of 3.4% sequentially and an improvement of 11.4% Y/Y. Total revenue was helped by a 30% sequential and 19% Y/Y increase in wholesale revenue. Jushi launched 175 new SKUs in 4Q, including the debut of a new vegan line of troches in Pennsylvania. These gains were partially offset by increased competition in Neva...
- Jesse Redmond
Jushi Announces Opening of Its 17th Pennsylvania Dispensary
Jushi announced the opening of a relocated dispensary in Mount Pocono, Pennsylvania. This is Jushi’s 35th store nationwide and 17th in Pennsylvania. Jushi is fully vertical in Pennsylvania, with a 123k-square-foot cultivation and manufacturing facility to complement the retail stores. Vertical integration provides greater control of the supply chain and often enhances margins. Pennsylvania is the fifth-most populous state with more than 13 million residents. It began medical sales in 2018 and is...
- Jesse Redmond
A Top Vertically Integrated Multi-State Operator
US cannabis stocks, as represented by the MSOS ETF, have been in a 1,015-day drawdown and fallen more than 90% from the peak on February 10, 2021. Valuations are compressed and there are a series of potential catalysts ahead. These include cannabis being moved from Schedule I to Schedule III, and Virginia, Pennsylvania, Ohio, and Florida transitioning to adult-use sales. Jushi is a top multi-state operator (MSO) in the US cannabis industry. Its footprint spans seven states: Pennsylvania, Virgini...
- Jesse Redmond
Water Tower Hour Recap
Jushi (CSE: JUSH, OTCQX: JUSHF) is a leading vertically integrated, US multi-state operator. The company operates in seven states, is vertically integrated in five markets, and employs more than 1,100 people. The firm is known for its exposure to leading medical markets that may soon be moving to adult-use sales, strong brands, and an experienced leadership team. Medical markets flipping to adult-use often see sales at least double and Jushi has invested ahead of this transition in key states li...
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