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Company News

BUZZ-U.S. shares of Aphria slump on Q3 loss, revenue miss

** U.S.-listed shares of Canadian cannabis producer Aphria Inc down 12.7% at $8.82 premarket set for their sharpest one-day drop in over four months

** Co reported Q3 loss compared to Refinitiv expectations of profit in a quarter that saw $50 mln impairment for LATAM assets; Q3 rev misses IBES estimates by over 13 pct

** Stock misses quarterly profit after two quarters of beating estimates by a large margin

** Co also announced plan to accelerate expiry of Green Growth Brands bid, and agreed to settle debt owed to GA Opportunities of $55.0 mln

** Shares poised to open at their lowest in more than two weeks

** Stock up 77 pct so far this year compared with last year’s 61.4 pct drop

** Other cannabis stocks such as Tilray Aurora Cannabis and Cronos down between 0.6% to 1.7%

** In March, Tilray reported Q4 results that beat estimates, while Cronos Q4 rev fell short of expectations (Reporting by Susan Mathew in Bengaluru)

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