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.