: Trulieve posts wider-than-expected fourth-quarter loss as revenue comes up short


Trulieve Cannabis Corp. TRUL, -0.22% TCNNF, -0.30% said Wednesday it had a net loss of $77 million, or 40 cents a share, in the fourth quarter, wider than the loss of $72 million, or 48 cents a share, posted in the year-earlier period. Excluding one-time items, its adjusted loss per share came to 18 cents, wider than the 8 cent FactSet consensus. Revenue fell 1% to $302 million from $305 million, just below the $307 million FactSet consensus. Chief Executive Kim Rivers said the company is laser focused on cash generation, while investing to build a sustainable company. The Tallahassee, Florida-based Trulieve reduced inventory by $4 million compared with a build of $32 million in the third quarter. The stock has fallen 65% in the last 12 months, while the AdvisorShares Pure US Cannabis ETF MSOS, +1.45% has fallen 62% and the S&P 500 SPX, -1.53% has fallen 4.4%.

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