On March tenth, Ayr Wellness (CSE: AYR.a) reported their fourth quarter and year end financial results. They posted quarterly revenues of U$47.76 million, an adjusted EBITDA of U$19.35 million, together with a web lack of U$143.58 million. Full yr numbers got here in at U$155.1 million, U$56.19 million, and -U$176.3 million, respectively. These numbers typically got here in keeping with the common analyst estimate. Yow will discover what analysts had been anticipating out of this quarter and full fiscal yr here.
Ayr Wellness presently has 4 analysts protecting the corporate with a weighted 12-month value goal of C$58. That is up from the common earlier than the outcomes, which was C$54.60. One analyst has a robust purchase score and the opposite three have purchase scores. The road excessive comes from Beacon Securities with a C$76 value goal, and the bottom goal comes from PI Monetary with a C$60 value goal.
In Canaccord’s notice on the eleventh, they had been the one analyst to improve their 12-month value goal, increase the goal from C$60 to C$70. Matt Bottomley, Canaccord’s analyst headlines, “This autumn/20: Nevada headwinds weigh on QoQ progress whereas Ayr supplies encouraging FY2022 outlook.”
Onto their estimates, Ayr got here barely under their estimates. They forecasted U$50.26 million and U$21.65 million for income and adjusted EBITDA, respectively. Bottomley attributes this miss primarily from COVID headwinds, particularly in Nevada, the place states gross sales had been down quarter over quarter. However in its different key state Massachusetts, it reported a 22% quarter over quarter enhance in wholesale gross sales with its merchandise in 78 out of the 110 retail dispensaries.
Bottomley believes that the corporate has enough capital to hold out its enlargement guarantees in addition to shut all pending M&A, with its U$245 million in money readily available.
The corporate reaffirmed its steerage for M&A cut-off dates. Throughout this quarter, the corporate closed each PA acquisitions and the Liberty Well being Sciences deal after the interval finish. The corporate continues to be on monitor to shut its AZ and OH transactions later this month, with the New Jersey acquisition anticipated to shut this summer time. Bottomley writes, “We imagine Ayr is on monitor to extend its US publicity, from its historic legacy markets of MA and NV to seven high-growth states, within the comparatively close to time period.”
Beneath you’ll be able to see Canaccord’s new 2021 and 2022 steerage. There’s a slight divergence between Canaccord’s 2020 numbers and management guidance.
Data for this briefing was discovered by way of Sedar and Refinitiv. The creator has no securities or affiliations associated to this group. Not a advice to purchase or promote. All the time do further analysis and seek the advice of knowledgeable earlier than buying a safety. The creator holds no licenses.