Aurora Cannabis (ACB) Stock Flies On Revenue Growth

Aurora Cannabis ACB Stock News

Aurora Cannabis Inc (NYSE: ACB) is making a run for the top in the market, and for very good reason. After Aphria Inc (NYSE: APHAbecame the first Canadian pot company to produce a quarterly profit, all eyes have been on Aurora in anticipation of their coming earnings report.

While ACB did not report earnings today, the company did issue a press release, giving investors a bit of insight as to what they can expect to see. The news was positive, sending the stock up well over 10% early on. Here’s what’s happening:

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ACB To Report Strong Revenue Growth

In a press release issued in the premarket hours this morning, Aurora Cannabis provided details with regard to the numbers it expects to report when it releases its financial result.

In the release, ACB said that it expects to report net revenue for the fiscal fourth quarter of between C$100 million and C$107 million. In USD, that works out to about $75.8 million on the low side.

In the same quarter last year, the company generated revenue of just C$19.1 million.  In the previous quarter, the company generated revenues of $65.1 million.

ACB said that the strong growth is driven by growth across all segments, including medical and recreational markets in Canada and around the world.

For the full year, the company said that it expects to report revenue in the range between C$249 million and C$256 million. In a statement, Terry Booth, CEO at ACB, had the following to offer:

Our Q4 2019 guidance highlights Aurora’s continued leadership. We set out to be best-in-class cultivators, and through carefully evaluated acquisitions, that vision continues to drive exceptional results today. We are the leader in cultivation capacity, production available for sale and revenues for cannabis in the Canadian medical and consumer markets. We continue to lead the build out of European and other international medical cannabis markets. Our success to date comes from a focus on quality, regulatory compliance, appropriate Board of Directors oversight, and delivering a profitable, low risk and sustainable business for our shareholders.

Get Ready For Gains Ahead

The news today was great for Aurora Cannabis and its investors. The company is expecting to report strong revenue on both a year over year and quarter over quarter basis. Moreover, in the release, the company said that it expects to report strong growth in gross margins and positive EBITDA.

At the end of the day, investors have been watching as the cannabis industry emerges. Early on, no profts were to be seen by publicly traded Canadian cannabis companies. With recent profits out of APHA, investors are watching other leaders in the space for more of the same.

It looks like that’s exactly what they are going to get out of ACB. Considering this, the stock will likely see dramatic gains when the audited financial results are released. So, don’t just take advantage of this run, pay attention as we near the financial results release date of September 24, 2019, as the report could lead to a dramatic run for the top!

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