VFF - 5 Pot Stocks That Posted Profits in Their Most Recent Earnings
Many investors come to expect losses from cannabis companies. After all, the industry's still in its early stages and it's undergoing a lot of growing pains. But that doesn't mean investors have to settle for unprofitable stocks, as there are many that are able to stay above breakeven, in some cases, on a consistent basis. Here are five stocks that didn't land in the red in their most recent earnings reports:
Aphria (NYSE: APHA) is developing a reputation for being one of the safer cannabis investments. It's more common than not that Aphria is profitable; the company's been in the black in three of the past four quarters. And while the Ontario-based pot producer may get a boost from non-operating items, it's also recorded an operating profit in two of the past periods.
The company released its third-quarter results on April 14, reporting a profit of 5.7 million Canadian dollars ($4.22 million). A key part of that success has been the company's focus on keeping its costs down. During the quarter, its cash cost to produce dried cannabis per gram fell from CA$1.11 in the second quarter to just CA$0.93 in Q3.