Q: thoughts on Q results for Village Farms vff/q...seemed to be a record in most categories (not sure versus analyst estimates).....both LP's and MSO's have been a louy Sector for a long long time....but both Vff and Gtii seem to be the only 2 profitable cannabis stocks, thanks, jb
5i Research Answer:
Revenue of $66.7M beat estimates of $57.9M. EBITDA of $20.28M beat estimates of $9.68M. EPS of 8c rose sharply from last year's 1c. Canadian production surged 33% and international exports rose 750%. The stock is up nearly 400% this year yet still is only 14X earnings. The balance sheet is fine. We would note consensus calls for lower earnings next year and cash flow is still quite low ($40M, 12 months) but otherwise things look quite good here, certainly on a relative basis vs peers.