Cannabis firm Trulieve reports robust income development in second quarter

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Trulieve Cannabis Corp., a Florida-primarily based multistate operator, reported record income of $57.9 million for the second quarter, up 149% compared with $23.three million through the similar period a year ago.

Income for the six-month period ended June 30 totaled $102.four million, almost triple the $38.five million the business posted through the second quarter final year.

Trulieve recorded net revenue of $57.five million in its second quarter, which ended June 30, compared with $7.9 million in the second quarter of 2018.

But the greater figure reflected an upward adjustment in the worth of its inventory, such as harvested cannabis and merchandise in progress, according to the company’s second quarter filing with Canadian securities regulators.

Trulieve earlier this month began trading in the U.S. on the more than-the-counter markets below the ticker symbol TCNNF and trades on the Canadian Securities Exchange as TRUL.

The business, primarily based in Tallahassee, Florida, has a enormous presence in that state’s MMJ market place, as properly as operations in California, Connecticut and Massachusetts.

Far more specifics about Trulieve’s second-quarter earnings report can be found right here.

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