| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
High Tide Inc. (NASDAQ:HITI) shares were trading higher Tuesday but have since reversed after the company reported better-than-expected third quarter financial results on Monday.
What To Know: High Tide reported earnings per share of 1 cent, beating the consensus estimate of a 1 cent-loss. In addition, the company reported sales of $108.95 million, beating the consensus estimate of $107.31 million.
Net income came in at $832,000, up 1% from last year and a sharp turnaround from a net loss of $2.8 million in the prior quarter.
Same-store sales increased 7.4% compared to the same period last year, representing the fastest growth rate in two years. The company also reported record adjusted EBITDA of $10.6 million, marking its 22nd straight quarter of positive results.
Canna Cabana, the company's retail chain, held a 12% share of the cannabis retail market across five provinces in May and June, up from 11% in the prior year. Membership in its Cabana Club surpassed 2.15 million, including more than 115,000 ELITE members, both of which reached new records
See Also: What’s Next: Stewart Information Servs’s Earnings Preview
HITI Price Action: At the time of writing, High Tide shares are trading 0.02% lower at $3.67, according to data from Benzinga Pro.
Image via Shutterstock
Posted In: HITI
