ACB - Has Aurora Cannabis Finally Turned Things Around for Investors?
2023-11-22 06:50:00 ET
Aurora Cannabis (NASDAQ: ACB) has been cutting costs and improving its bottom line over several quarters in a bid to show investors that its operations are in better shape. That might make analysts more bullish about its prospects. The company recently released its latest earnings report, which again showed that its bottom line is getting better. But is it enough to prove to investors that it has turned its operations around, and that it's a stock worth investing in?
On Nov. 9, Aurora Cannabis reported results for its fiscal 2024 second quarter ended Sept. 30. The company says that "this is our strongest fiscal year to date," with Aurora reporting year-over-year growth and a positive adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA ) profit for the fourth straight quarter.
Revenue totaling 63.4 million Canadian dollars ($46.3 million) for was up 30% from the same period last year. Adjusted (EBITDA) of CA$3.4 million was also a sharp improvement from the CA$6.2 million adjusted EBITDA loss that Aurora Cannabis reported in the year-ago period. The company has been slashing costs in an effort to win back investors -- its shares are down more than 90% during the past three years.
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Has Aurora Cannabis Finally Turned Things Around for Investors?