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Green Thumb Industries net income edges up, beats estimates

33687 green thumb industries net income edges up beats estimates

Green Thumb Industries Inc. GTII, +3.20% GTBIF, +0.68% said Tuesday its fourth-quarter net income rose to $22.81 million, or 10 cents a share, from $22.47 million, or 11 cents a share in the year-ago quarter. Sales rose by 37.4% to $243.6 million, from $177.2 million in the year-ago quarter as the cannabis company grew scale in its consumer packaged goods and retail businesses, particularly in Illinois and Pennsylvania. Fourth-quarter earnings before interest, taxes, amortization and depreciation (Ebitda) rose to $75.6 million from $61.3 million. Analysts surveyed by FactSet expected Green Thumb Industries to earn 8 cents a share on $238 million of revenue. Shares of Green Thumb Industries are down 13.7% so far in 2022, compared to a drop of 15.6% by the AdvisorShares Pure Cannabis ETF MSOS, +0.47%.

Source: Marketwatch

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