{"id":446518,"date":"2022-05-13T20:00:00","date_gmt":"2022-05-13T17:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/trulieve-ascend-wellness-ceos-chart-multi-state-growth\/"},"modified":"2022-05-13T20:00:00","modified_gmt":"2022-05-13T17:00:00","slug":"trulieve-ascend-wellness-ceos-chart-multi-state-growth","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/trulieve-ascend-wellness-ceos-chart-multi-state-growth\/","title":{"rendered":"#: Trulieve, Ascend Wellness CEOs chart multi-state growth"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3bc234acc0a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3bc234acc0a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/trulieve-ascend-wellness-ceos-chart-multi-state-growth\/#%E2%80%9C_Trulieve_Ascend_Wellness_CEOs_chart_multi-state_growth%E2%80%9D\" >&#8220;: Trulieve, Ascend Wellness CEOs chart multi-state growth&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/trulieve-ascend-wellness-ceos-chart-multi-state-growth\/#Kim_Rivers_of_Trulieve_and_Abner_Kurtin_look_past_mixed_quarter_to_new_stomping_grounds\" >Kim Rivers of Trulieve and Abner Kurtin look past mixed quarter to new stomping grounds.<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/trulieve-ascend-wellness-ceos-chart-multi-state-growth\/#Steve_Gelsi\" >Steve Gelsi<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9C_Trulieve_Ascend_Wellness_CEOs_chart_multi-state_growth%E2%80%9D\"><\/span>&#8220;: Trulieve, Ascend Wellness CEOs chart multi-state growth&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Kim_Rivers_of_Trulieve_and_Abner_Kurtin_look_past_mixed_quarter_to_new_stomping_grounds\"><\/span>\n  Kim Rivers of Trulieve and Abner Kurtin look past mixed quarter to new stomping grounds.<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000869359\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000869359\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       CEOs by their nature remain an optimistic bunch, but with more states to offer growth in the adult use cannabis business, the leaders of both Trulieve Cannabis Corp. and Ascend Wellness Holdings Inc. have plenty of room for revenue  expansion as these new territories come on line this year.<\/p>\n<p> Trulieve<br \/>\n        TCNNF,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/207658767\/delayed\" class=\"positive\">+2.19%<\/bg-quote><\/p>\n<p>        TRUL,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210560499\/delayed\" class=\"positive\">+0.77%<\/bg-quote><br \/>\n       and Ascend Wellness<br \/>\n        AAWH,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/226701495\/composite\" class=\"positive\">+5.47%<\/bg-quote><br \/>\n       issued mixed first-quarter results, but with medical and adult use cannabis programs sprouting in several states, the companies directed the spotlight on prospects ahead in Florida, New York, and New Jersey.<\/p>\n<div class=\"paywall\">\n       Acquisitions remains on the table as well, particularly for Trulieve, which closed the $2.1 billion acquisition of Arizona-based Harvest Health &amp; Recreation Inc. in October as one of the largest M&amp;A deals in the industry. <\/p>\n<p>Trulieve Cannabis on Thursday reported a first-quarter net loss of $32 million, or 17 cents share, from net income of $30.1 million, or 24 cents share in the year-earlier period.<\/p>\n<p>Breaking out items related to its Harvest acquisition and other one-time costs, the company earned a penny a share, below the Wall Street estimate of 3 cents a share, according to FactSet data.<\/p>\n<p>Revenue increased by 64% to $318.3 million, ahead of the $306 million estimate.<\/p>\n<p>The company booked $45.1 million in cash flow from operations and ended the quarter with a cash balance of $267 million, with operations in 11 states.<\/p>\n<p>Trulieve is still expecting full-year revenue of $1.3 billion to $1.4 billion. The FactSet consensus was $1.34 billion.<\/p>\n<p>With a 30% market share in Florida and 100 stores, the Sunshine State continues to offer growth opportunities, CEO Kim Rivers told MarketWatch.<\/p>\n<p>\u201cWe\u2019ll continue to grow our Florida footprint \u2013 we don\u2019t anticipate it slowing down,\u201d she said.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>During the first quarter, the state booked an average of 3,700 new medical cannabis patients per week.<\/p>\n<p>Trulieve remains on track to build up its presence in Maryland and Florida, as well as growth in Pennsylvania and West Virginia, and sees additional investment in Arizona.<\/p>\n<p>Trulieve also continues to look for opportunities to buy smaller cannabis companies in the Southeast, the Northeast and the Southwest.<\/p>\n<p>\u201cWe\u2019ll be acquisitive around those hubs and on-board [small] operators within that footprint,\u201d Rivers said. \u201cWe have strong balance sheet and proven access to capital and we\u2019ll remain opportunistic.\u201d<\/p>\n<p><strong>Also Read: <\/strong>Acreage sees cannabis business sprouting in the Northeast<\/p>\n<p><strong>Ascend Wellness eyes Big <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">App<\/a>le presence<\/strong><\/p>\n<p>Ascend Wellness on Wednesday said its first-quarter loss narrowed to $27.8 million, or 16 cents a share, from a loss of $48.2 million, or 45 cents a share in the year-ago quarter.<\/p>\n<p>Revenue increased to $85.1 million from $66.1 million.<\/p>\n<p>Ascend Wellness fell short of the Wall Street target for a loss of 3 cents a share and the revenue estimate of $86.4 million, according to FactSet Data.<\/p>\n<p>Ascend Wellness co-founder and CEO Abner Kurtin said the company is bullish about its prospects for adult use cannabis in New Jersey, with one store open and two more on the way in the Garden State.<\/p>\n<p>It\u2019s also gearing up for a bigger presence in New York after reaching a settlement with MM Enterprises USA LLC<br \/>\n        MMNFF,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/201940908\/delayed\" class=\"positive\">+3.41%<\/bg-quote><br \/>\n       in a lawsuit over the sale of MedMen NY Inc.<\/p>\n<p>Ascend Wellness\u00a0agreed to hike its purchase price by $15 million $88 million from $73 million to settle the lawsuit filed Jan. 14 between the two cannabis companies.<\/p>\n<p>Even at $88 million, the purchase is much less than the $247 million acquisition of Etain by RIV Capita Inc.<br \/>\n        CNPOF,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/201002551\/delayed\" class=\"positive\">+2.95%<\/bg-quote><br \/>\n       a unit of Scotts Miracle-Gro Co.<br \/>\n        SMG,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200553749\/composite\" class=\"positive\">+3.57%<\/bg-quote><span>,<\/span><br \/>\n       to enter the New York market, Kurtin said.<\/p>\n<p>The MedMen NY deal includes four medical dispensaries in Manhattan, Long Island, Syracuse and Buffalo, plus a cultivation facility in Utica.<\/p>\n<p>\u201cWe\u2019re really excited about New York,\u201d Kurtin said. \u201cThe seller didn\u2019t like the price, which created the situation.\u201d<\/p>\n<p>Ascend Wellness plans to keep MedMen\u2019s Fifth Avenue retail location, which has been described as the Apple store of weed.<\/p>\n<p>\u201cIt\u2019s a great location for locals and for tourists,\u201d Kurtin said.<\/p>\n<p>Shares of Trulieve are down about 44% so far in 2022 as cannabis stocks have weakened in the face of low prospects for federal legalization and overall stock market jitters about inflation and a recession. <\/p>\n<p>Ascend Wellness has fallen 48.8% so far in 2022, while the AdvisorShares Pure Cannabis ETF<br \/>\n        MSOS,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/220307682\/composite\" class=\"positive\">+3.97%<\/bg-quote><br \/>\n       is down 44.5%.<\/p>\n<p><strong>Also Read:<\/strong> Here\u2019s why Curaleaf looks past headwinds and sticks to 2022 revenue view<\/p>\n<p>\u00a0<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Steve Gelsi\",\"subhead\":\"The Wall Street Journal\",\"list\":[,{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/SteveGelsi\",\"text\":\"@SteveGelsi\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Steve_Gelsi\"><\/span>Steve Gelsi<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-7D43-EFC74EF6EE1E%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;: Trulieve, Ascend Wellness CEOs chart multi-state growth&#8221; Kim Rivers of Trulieve and Abner Kurtin look past mixed quarter to new stomping grounds. CEOs by their nature remain an optimistic bunch, but with more states to offer growth in the adult use cannabis business, the leaders of both Trulieve Cannabis Corp. and Ascend Wellness Holdings&#8230;<\/p>\n","protected":false},"author":1,"featured_media":446519,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.mktw.net\/im-544020\/social","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-446518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/446518","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=446518"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/446518\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/446519"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=446518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=446518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=446518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}