CRON - Canopy Hexo and Aphria down after Cronos' Q4 earnings falls short of consensus

Canopy Growth (CGC), HEXO (HEXO), and Aphria (APHA) have joined Cronos (CRON) in a pre-market drag among pot stocks after the latter’s Q4 2020 earnings failed to surpass consensus estimates.Notable pre-market losers in the cannabis space include Canopy Growth, Aphria and Hexo, with declines of ~1.4%, 1.2% and ~1.5%, respectively. Cornos lead them with a ~2.9% loss.The company swung back to losses for the quarter and the full year ending December 31 with a ~$0.33 and $0.21 net loss per diluted share, respectively.In contrast, the consensus for Q4 and the full year projected a net loss of ~$0.08 and earnings of ~$0.02 per share respectively.However, the revenue for the final quarter more than doubled to $17.0M at ~133.3% YoY ahead of the consensus at $13.8M.Full year revenue grew at ~96.7% YoY to reach $46.7M compared to $43.0M consensus.

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Canopy, Hexo and Aphria down after Cronos’ Q4 earnings falls short of consensus