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Aurora Cannabis Inc. (TSX:ACB) (NYSE: ACB) filed its year-end earnings for fiscal 2019 Wednesday aftermarket, the longtime number one contender removing all existing doubt about its rights to the title. ACB leads the Canadian cannabis sector in production, sales and revenue. Having got there using the blunt force trauma of money, they also lead in leverage. The Deep Dive has the goods:
Aurora didn’t do themselves any favors by guiding for $100 million to $107 million in Q4 total sales, then only delivering $98 million. The stock started to slip right away in the aftermarket and finished off -8.7% at $7.77 on 19 million shares; the most volume it’s seen since May. But there’s no way around calling this fiscal 2019 a success. Aurora has passed Canopy Growth Corp. (TSX:WEED) to become the undisputed leader in cannabis revenue and unit sales, all at one of the best margins in the business (56% gross margin on cannabis).
Aurora has convincingly passed Canopy Growth in cannabis unit sales…
READ MORE HERE: thedeepdive.ca/aurora-cannabis-is-the-new-champ-but-being-champ-isnt-cheap/
