Cannabis firm Trulieve reports sturdy 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 in the course of the very same period a year ago.

Income for the six-month period ended June 30 totaled $102.four million, practically triple the $38.five million the corporation posted in the course of the second quarter final year.

Trulieve recorded net earnings 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 larger figure reflected an upward adjustment in the worth of its inventory, such as harvested cannabis and solutions 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 corporation, primarily based in Tallahassee, Florida, has a large presence in that state’s MMJ industry, as effectively as operations in California, Connecticut and Massachusetts.

Extra information about Trulieve’s second-quarter earnings report can be found right here.

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