Jushi Q2 revenue beats analyst estimates, posts record wholesale on higher production volumes

Overview

• U.S. cannabis operator's Q2 revenue rose 10% yr/yr, beating analyst expectations

• Company posted record wholesale revenue and strong retail growth in Virginia

• Recognized $6.4 mln tax benefit from federal rescheduling of medical marijuana

Outlook

• Company says Virginia adult-use cannabis sales to begin July 1, 2027

• Jushi advancing cultivation and processing investments to support transition to adult-use sales

• Company focused on expanding distribution, optimizing retail portfolio and maintaining liquidity in second half

Result Drivers

• WHOLESALE EXPANSION - Record wholesale revenue driven by higher production volumes, improved product quality, and expanded distribution, per CEO Jim Cacioppo

• RETAIL NETWORK GROWTH - Retail revenue rose on new dispensary openings and strong same-store sales in Ohio and Virginia, despite pricing pressure

• OPERATIONAL EFFICIENCIES - Margin improvements attributed to higher production volumes and operational efficiencies, partly offset by competitive pricing and promotions

Company press release: ID:nGNXsQjmr

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the healthcare facilities services peer group is "buy"

• Wall Street's median 12-month price target for Jushi Holdings Inc is C$1.70, about 198.2% above its July 27 closing price of C$0.57

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)