Green Thumb Industries Inc

GTII: XCNQ (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 18.00	Rxzh	Fbrrfqwrgr

Green Thumb Earnings: Another Strong Quarter, but Shares Remain Undervalued as Rescheduling Looms

Kristoffer Inton

Aug 6, 2024

No-moat Green Thumb reported another strong quarter. Second-quarter sales were roughly flat sequentially at $280 million and adjusted EBITDA margin expanded roughly 80 basis points from the first quarter to 34%. Margin is particularly impressive, reaching the highest it has ever achieved. Results were largely within our expectations, so we don’t expect to make a major change to our fair value estimates of $24 and CAD 33 per share.

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