Trulieve continues to buck cannabis earnings trend with increased Q1 profit

Florida-based Trulieve Cannabis Corp. reported revenue for the first quarter of $44.5 million, nearly triple the $15.2 million the company recorded a year ago.

Profit for the vertically integrated medical marijuana firm more than doubled to $14.7 million, compared with $6.9 million in the first quarter of 2018, continuing Trulieve’s trend of not only growing sales but doing so profitably.

Profitability has been a challenge for many other cannabis firms, including Acreage Holdings, Aurora Cannabis and Tilray, among others.

Trulieve had 27 stores operational at the end of the quarter, compared with 13 a year ago.

To read more about Trulieve’s latest results, click here.

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