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Cronos Group Full Year 2023 Earnings: Misses Expectations

Cronos Group (TSE:CRON) Full Year 2023 Results

Key Financial Results

  • Revenue: US$87.2m (flat on FY 2022).

  • Net loss: US$69.8m (loss narrowed by 55% from FY 2022).

  • US$0.18 loss per share (improved from US$0.41 loss in FY 2022).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Cronos Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 72%.

Looking ahead, revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Pharmaceuticals industry in Canada.

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Performance of the Canadian Pharmaceuticals industry.

The company's shares are down 9.8% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on Cronos Group's balance sheet.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.