Company Performance - Aurora Cannabis Inc. reported quarterly earnings of $0.11 per share, exceeding the Zacks Consensus Estimate of a loss of $0.18 per share, compared to a loss of $1.50 per share a year ago, indicating a significant improvement [1] - The earnings surprise for this quarter was 161.11%, while the previous quarter saw a loss of $0.20 against an expected loss of $0.10, resulting in a surprise of -100% [1] - The company generated revenues of $49.98 million for the quarter ended March 2024, which was 2.54% below the Zacks Consensus Estimate, but an increase from $47.35 million in the same quarter last year [1] Market Performance - Since the beginning of the year, Aurora Cannabis shares have increased by approximately 20.1%, outperforming the S&P 500's gain of 15% [2] - The stock's immediate price movement will largely depend on management's commentary during the earnings call [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.20 on revenues of $61.12 million, and for the current fiscal year, it is -$0.32 on revenues of $230.92 million [4] - The estimate revisions trend for Aurora Cannabis is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the shares are expected to perform in line with the market in the near future [4] Industry Context - The Medical - Products industry, to which Aurora Cannabis belongs, is currently ranked in the bottom 42% of over 250 Zacks industries, indicating potential challenges for stock performance [5] - Abbott, another company in the same industry, is expected to report quarterly earnings of $1.10 per share, reflecting a year-over-year change of +1.9%, with revenues projected at $10.35 billion, up 3.8% from the previous year [5]
Aurora Cannabis Inc. (ACB) Surpasses Q4 Earnings Estimates