OrganiGram: Fiscal Q2 Earnings Snapshot
MONCTON, New Brunswick (AP) _ OrganiGram Holdings Inc. (OGI) on Tuesday reported a loss of $52.1 million in its fiscal second quarter.
The Moncton, New Brunswick-based company said it had a loss of 22 cents per share. Losses, adjusted for non-recurring costs, came to 9 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.
The cannabis producer posted revenue of $11.5 million in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $15.7 million.
The company’s shares closed at $2.77. A year ago, they were trading at $1.81.