: Ayr Wellness swings to a loss while revenue increases by 12%
Ayr Wellness Inc. AYRWFCA:AYR.A on Thursday reported a fourth-quarter loss of $166.4 million, or $2.40 a share after posting net income of $23.79 million, or 35 cents a share, in the year-ago quarter. Wall Street analysts expected a loss of 37 cents a share, according to estimated compiled by FactSet. The cannabis company’s loss was mostly tied to a $148.5 million goodwill impairment in the latest quarter, compared to no impairment in the year-ago quarter. Revenue increased by 11.5% to $124.6 million, below the Wall Street estimate of $128.7 million. During 2022, the company added 14 dispensaries in its eight-state footprint and brought its total dispensary count to 80 stores. Ayr Wellness stock is down 20.8% in 2023, compared to a 2.4% loss by the AdvisorShares Pure U.S. Cannabis ETF MSOS and a 10.6% increase by the Nasdaq COMP.
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