Cresco Labs Swings To Earnings In Q2

(RTTNews) - Cresco Labs Inc. (CRLBF, CL.CN), a producer and distributor of cannabis and cannabis products, on Thursday reported higher net income in the second quarter compared with the previous year.

For the second quarter, net income came in at $15.37 million compared with loss of 13.89 million in the previous year.

Adjusted EBITDA decreased to $39.54 million from $40.88 million in the prior year.

Income from operations declined to $13.36 million from $16.14 million in the prior year.

Net revenue increased to $173.34 million from $163.62 million in the previous year.

On Wednesday, Cresco Labs closed trading 9.09% lesser at C$0.9000 on the Canadian Sec Stock Exchange.