- Q4 revenues beat guidance modestly while EBITDA in line. As expected, results were softer on MA wholesale pricing pressure and decision to hold some product for rec retail opening in early ’22.
- ’22 guidance cut meaningfully with management now expecting to exit the year on run-rate of prior guidance.
- Guidance cut primarily attributed to slower start to NJ sales, continued delays in MA retail openings and construction challenges.
- Believe story remains about ’23 and continue to believe AYR is one of best positioned MSOs for growth.
For further details see:
Ayr Wellness: Guidance Cut For 2022 But Positive Outlook Exiting Year Remains