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TerrAscend Preannounces Strong Third Quarter 2020 Results - Net Sales of $51.0 Million and Adjusted EBITDA of $17.8 Million
TerrAscend Preannounces Strong Third Quarter 2020 Results - Net Sales of $51.0 Million an...
About this update from Terrascend Corp.
[{"type":"text","content":"\n \n \n \n TerrAscend Preannounces Strong Third Quarter 2020 Results - Net Sales of $51.0 Million and Adjusted EBITDA of $17.8 Million\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP-COLOR:; VERTICAL-ALIGN: TOP; BORDER-LEFT-COLOR:; BORDER-BOTTOM-COLOR:; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-RIGHT-COLOR:; PADDING-RIGHT:0.50em\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnbcc{\nBORDER-TOP-COLOR:; BORDER-COLLAPSE: COLLAPSE; BORDER-LEFT-COLOR:; BORDER-BOTTOM-COLOR:; BORDER-RIGHT-COLOR:\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n NEW YORK and TORONTO, Nov. 2, 2020\n \n \n \n \n \n Adjusted EBITDA increased to\n \n $17.8 Million\n \n , a 56% improvement quarter-over-quarter\n \n \n \n \n Adjusted EBITDA Margin expands sequentially to 35% from 24%\n \n \n \n \n Q3 2020 earnings call scheduled for\n \n November 19, 2020\n \n will include increased 2020 and preliminary 2021 guidance\n \n \n \n \n NEW YORK\n \n and\n \n TORONTO\n \n ,\n \n Nov. 2, 2020\n \n /CNW/ - TerrAscend Corp. (\"TerrAscend\" or the \"Company\") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced preliminary financial results for its third quarter ending\n \n September 30, 2020\n \n . All amounts are in Canadian dollars. Based on a preliminary (unaudited) review, the Company anticipates:\n \n \n \n Net Sales of\n \n $51.0 million\n \n , representing 8% sequential and 90% year over year growth\n \n \n Adjusted EBITDA of\n \n $17.8 million\n \n , an increase of 56% sequentially\n \n \n Adjusted EBITDA margin expanded to 35% in Q3 from 24% in Q2 and 14% in Q1\n \n \n \n \"We're driving strong revenue growth and margin expansion by focusing on operational excellence, controlled SG&A spending, and strategically allocating our capital to generate the greatest returns and industry leading EBITDA margins,\" said\n \n Jason Ackerman\n \n , CEO and Executive Chairman of TerrAscend. \"Leveraging the skills of our of best-in-class operating team, we are focused on rapidly building scale in growing limited license markets.\"\n \n \n Mr. Ackerman added, \"Th...