In a recent analyst note, Pablo Zuanic from Cantor Fitzgerald takes a close look at Florida's operators regarding store trends and total sales growth.
The Florida medical marijuana market has continued to slow in the first quarter of 2022, after mid-teens sequential growth earlier in 2021.
Trulieve remains the industry leader with a 50% flower volume share in the Sunshine State and 41% non-flower volumes. Trulieve's stores yield higher sales than the per-store average, so far, 77% above in the flower segment in the first quarter of 2022.
Top 12 Players In The Quarter
AYR, Cansortium's Fluent, iAnthus and Cresco grew sequentially both in the last quarter of 2021 and the first quarter of 2022. Not all of those companies that have increased their number of stores have been able to maintain or grow revenues per store, with several actually seeing lower “yields” per store.
Cansortium CNTMF: +33%
AYR AYRWF: +23%
iAnthus ITHUFIAN: +10%
VidaCann: +6%
Cresco CL: +2%
Curaleaf CRLBF: -14%
MedMen MMNFF: -13%
Green Thumb Industries GTII -12%
Columbia Care CCHWF -8%
Verano VRNOF: -3%
Trulieve TCNNF: -2%
LiveParallel: 0%
Photo by Joël de Vriend on Unsplash.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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