Pot Producer Aphria Soars Pre-Market After Posting Second Profitable Quarter

Cannabis company earns C$16.4m on revenue of C$126.1m
Recreational marijuana sales increase 8% from prior quarter

U.S. Companies Ready to Cash In on Legal Weed

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By Kristine Owram

October 15, 2019 at 12:16 PM UTC

Updated on

October 15, 2019 at 3:31 PM UTC

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Aphria Inc. became the first large pot producer to report a second consecutive profitable quarter Tuesday, sending its stock up as much as 18%.

The company said it earned C$16.4 million on revenue of C$126.1 million in the quarter ended Aug. 31, a slight decline from the prior period. It also reiterated its outlook for fiscal 2020, which calls for revenue of C$650 million to C$700 million and adjusted Ebitda of C$88 million to C$95 million.