HEXO: Fiscal Q3 Earnings Snapshot
OTTAWA, Ontario (AP) _ HEXO Corp. (HEXO) on Monday reported a loss of $16.5 million in its fiscal third quarter.
On a per−share basis, the Ottawa, Ontario−based company said it had a loss of 14 cents. Losses, adjusted for costs related to mergers and acquisitions, were 12 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The cannabis producer posted revenue of $18 million in the period, which also fell short of Street forecasts. Seven analysts surveyed by Zacks expected $28 million.
HEXO shares have climbed 80% since the beginning of the year. The stock has risen 62% in the last 12 months.
The Associated Press