Aurora Cannabis (ACB) reported earnings on Thur 14 May 20 (a/h)

Aurora Cannabis went public by listing on the TSX Venture Exchange in Canada in 2014 via a reverse takeover before later graduating to the Toronto Stock Exchange (TSX) and making its U.S. debut on the New York Stock Exchange (NYSE) under the ticker ACB on October 23, 2018.

• 5/14:  #1, 29, 75; vol 12.2M

** charts after earnings **

Aurora Cannabis Earnings Miss in Q3, on Track for Positive Earnings by 2021

• Posts smaller sequential loss as pot use rises amid lockdown
• The Canadian pot producer sold 12,729 kilograms of cannabis in the third quarter, 39% more than a year earlier. The sales spike comes as cannabis is an essential service in several provinces and states across Canada and the Unites States.

Aurora Cannabis (NYSE:ACB) said it was on track to deliver positive earnings by next year after reporting mixed third-quarter results as earnings fell short, but revenue topped expectations as the marijuana producer ramped up production.

"I am also pleased that our third quarter 2020 financial results were in-line with our expectations and that we remain firmly on track with the cost-savings and capex goals we detailed during our business transformation plan in February 2020," said Michael Singer, executive chairman and interim chief executive of Aurora.

SG&A costs in the third quarter of 2020 were $75.1 million, down $24.7 million from the prior quarter.

Aurora Cannabis reported third-quarter losses of C$1.37 a share, missing estimates for a loss of C$0.77. Revenue of C$75.5 million beat estimates of C$46.99 million.

The beat on the top line was led by strong performance in its consumer cannabis business, with revenue up 24% to $41.5 million year on year.

Production volume rose 18% to 36,207 kilograms in the quarter.

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