Cannabis Earnings Update: Marijuana Lenders And Top Operator To Report Results, Here's What Investors Need To Know

Benzinga · 10/17 15:28

Chicago Atlantic

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) will issue its earnings and supplemental financial information for the third quarter that ended Sept. 30, 2024, before the market opens on Thursday, Nov. 7.

The Chicago-based and cannabis-focused commercial mortgage real estate investment trust said a conference call and live audio webcast, both open for the general public, will be held later that day at 9:00 am Eastern Time.

The company’s portfolio performance remained strong with a total loan principal outstanding of $383.3 million across 31 investments, Chicago Atlantic said in August, on the heels of its second quarter financial results. Also, the weighted average yield to maturity as of June 30, 2024, was approximately 18.7%, a slight decrease from 19.4% as of March 31, 2024, attributed to amendments in borrower performance and pricing structures.

Chicago Atlantic's shares traded 0.06% higher at $15.79 at the time of writing on Thursday morning.

Read Also: Cannabis REIT Chicago Atlantic Closes $20M Facility With Massachusetts Weed Co. That Plans To Expand In These Key Markets

NewLake Capital

NewLake Capital Partners, Inc. (OTCQX:NLCP) announced its plans Wednesday to host a conference call and report its financial results for the third quarter that ended Sept. 30, 2024, on Thursday, Nov. 14, 2024, at 11:00 am Eastern Time.

The company has emerged as a compelling player in the cannabis REIT sector. In May it announced its acquisition of a 58,500-square-foot industrial property in East Hartford, Connecticut. The company also said at the time that it had entered into a long-term triple net lease with an affiliate of Michigan-based C3 Industries Inc.

NewLake's shares traded 1.44% higher at $20.05 per share on Thursday morning.

Read Also: EXCLUSIVE: How To Raise Capital In Cannabis – A Guide To Debt And Equity For Avoiding Pitfalls That Sink Most Startups

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Cresco Labs

Cresco Labs Inc. (CSE:CL) (OTCQX:CRLBF) (FSE: 6CQ) will report financial results for the third quarter that ended Sept. 30, 2024 on Friday, Nov. 8, before the market opens.

Cresco, operator of Sunnyside dispensaries, said it will host a conference call and webcast to discuss its results and provide investors with key business highlights the same day.

The company’s second quarter report published in August demonstrated "the sustainability of the improvements we’ve made to the business over the past year with $184 million in revenue at a 29% Adjusted EBITDA margin,” said CEO Charles Bachtell.

Cresco Labs made its debut in Chicago in 2013 when Illinois passed the Compassionate Use of Medical Cannabis Act. "The company’s goal and that of its management team has been to help normalize and professionalize this industry," Bachtell told the crowd gathered at the Benzinga Cannabis Capital Conference in Chicago in early October.

A September note from Zuanic & Associates rated Cresco as "Overweight" among the top five multi-state operators (MSOs) in the U.S. According to Zuanic, Cresco's financial performance in Q2 2024 underscores its efficiency-focused strategy, adding that key opportunities lie in Cresco's footprint in states like Ohio, Florida and Pennsylvania.

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