HEXO - Aphria: Back In Black
All dollar amounts are in Canadian dollars unless otherwise noted.
Last quarter, Aphria posted disappointing results with a sharp decline in their core cannabis business. Aphria did not repeat those disappointing results again: Results from their May quarter, announced on August 1st, are phenomenal.
Aphria posted its first EBITDA profit in five quarters based on doubling cannabis volume and significantly improved cannabis gross margins. The market loved these results, with shares rising 32% after-hours on optimism that Aphria's new management team had righted the ship after long-time CEO Vic Neufeld departed under a cloud of