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OrganiGram: Fiscal Q2 Earnings Snapshot

April 13, 2021 GMT

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.

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The company’s shares closed at $2.77. A year ago, they were trading at $1.81.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OGI at https://www.zacks.com/ap/OGI