AAWH - Ascend Wellness Appoints High-Profile Executives Expects Record Revenue In Q3 | Benzinga
Vertically integrated cannabis operator Ascend Wellness Holdings, Inc. (CSE: AAWH.U) (OTCQX: AAWH) announced on Wednesday its preliminary third quarter 2023 financial results and updates to its leadership team.
Following a preliminary, unaudited review, the company is expecting the following:
- Record revenue for the 6th consecutive quarter, with net revenue up nearly 15% sequentially to approximately $140 million;
- Sequential adjusted EBITDA growth ranging from $27 to $29 million; and
- A third consecutive quarter of positive cash from operations and the first quarter of positive free cash flow.
"Based on our preliminary evaluation, Q3 2023 marks a noteworthy milestone for our company as our preliminary results have exceeded expectations," Abner Kurtin, the company's executive chairman, said. "We are thrilled to report record-breaking revenue, accompanied by a significant increase in adjusted EBITDA and continued healthy cash flow generation."
The company will host a third-quarter conference call on Tuesday, Nov. 7.
Key Leadership Changes
The New ...