GTBIF - Green Thumb net income rises 14% on strong YoY revenue increase

Green Thumb Industries (OTCQX:GTBIF) saw its Q3 2021 net income increase 14% to $58.1M thanks to strong year-over-year revenue growth. Revenue in the quarter was $233.7M, ~49% increase from the prior-year period. That beat Street expectations by $1.3M. In the quarter, Green Thumb generated revenue in all 14 of its markets: California, Colorado, Connecticut, Florida, Illinois, Maryland, Massachusetts, Nevada, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, and Virginia. Comparable sales growth was 14% based on 48 stores. The quarter marked the company's expansion into Virginia through its acquisition of Dharma Pharmaceuticals and in Rhode Island through a cultivation and production facility. Read why Seeking Alpha contributor Alexander Teicher believes Green Thumb has the potential for 200% upside.

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Green Thumb net income rises 14% on strong YoY revenue increase