Is iAnthus Capital Holdings a Buy? Second Fiscal Quarter 2019 - Results and Highlights
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Please also watch Top 5 Marijuana Stocks | Best Pot Stocks | Top Cannabis Stocks | Best Weed Stocks Long Term https://youtu.be/eS9uLCDlXMg - iAnthus is #4 on this list.
iAnthus Reports Fiscal Second Quarter 2019 Financial Results
Pro Forma Revenues of $25 million, Maintained Tight Expense Control
* Pro forma revenues for the second quarter were $25.0 million, up 35% sequentially from the prior quarter
* Maintained disciplined approach to operating and capital expense investments without compromising growth
* Announced term sheet for up to $50 million Senior Secured Term Loan financing with Torian Capital
* CBD For Life acquisition closed in June; currently distributed in more than 1,100 retail locations in 46 states
* Opened five new dispensaries in Florida, bringing total to eight as of August 27
* Total pro forma managed revenues of $25.0 million, up 35% from the prior quarter
* Second quarter reported revenues of $19.2 million, which has increased 100% from $9.6 million in the prior quarter (MPX results consolidated as of February 5, 2019)
* Eastern Region revenue increased to $10.2 million, up 143% from the prior quarter
* Western Region revenue increased to $9.0 million, up 67% from the prior quarter
See Tables 1 and 2 below for further detail
* Adjusted gross margin for the quarter was 52.4%, up from 23.4% in the first quarter
* Adjusted gross profit of $10.1 million, up 347% from $2.2 million in the prior quarter
* Productivity improvements and increased utilization in Arizona, Florida, Massachusetts, Maryland and Nevada attributed to the gross margin improvement in the quarter
EBITDA and Net Income
* Adjusted EBITDA⁷ loss of $4.7 million, compared to an adjusted EBITDA loss of $5.1 million in the prior quarter
* The Company maintained expense discipline in the quarter; General and Administrative expenses increased moderately to $5.7 million in the second quarter from $4.1 million in the prior quarter
* Salaries and Benefit expenses increased to $8.1 million in the second quarter from $6.1 million in the first quarter as the company continues to add employees; The Company’s current employee base is nearly 700
* The Company incurred several acquisition related expenses and other one-time costs totaling $2.4 million; These expenses include advisory, professional, legal, consulting, severance and accounting fees which have been added back to arrive at adjusted EBITDA as these costs are non-recurring and are not part of ongoing operational activities of the Company
* The Company recorded a second quarter net loss of $9.3 million, compared to an adjusted net loss of $16.5 million in the prior quarter
* The change in fair value of financial instruments increased to a gain of $22.8 million in the second quarter, as a result of the revaluations of the derivative component of the Company’s convertible securities
Balance Sheet and Cash Flow
* At June 30, 2019, total assets were $811.0 million, including cash and cash equivalents of $30.5 million, an increase of $642.6 million (or 382%) in total assets from year end 2018
* Current fully dilutive share count of 249.7 million shares which includes 156.1 million common shares, 15.5 million class A shares and 78.1 million dilutive securities
* Capital expenditures totaled $24.6 million in the second quarter, the majority of which (over 80%) was spent on the cultivation and store expansion in Florida
* On August 20th, the Company announced it had entered a term sheet with Torian Capital for up to $50 million in Senior Secured debt financing
Second Quarter Operational Highlights
* Increased production 30% sequentially to 5,300 pounds (dried, cured, fresh frozen) from 4,076 pound in the first quarter
* Yield gains of over 10% in targeted initiatives in Massachusetts, Nevada and Arizona helped drive gross margin improvement
* Increased production footprint in Florida to over 120,000 square feet, including 70,000 square feet in a lower cost, outdoor cultivation environment
* Development of new products and extension of existing MPX lines supporting new product introductions in Arizona and Nevada, as well as new releases planned for the second half of 2019 throughout the iAnthus footprint
* Achieved planned milestones for CBD For Life integration and new products planned for the fourth quarter
* Recruited top talent from established industries to facilitate scale and growth
* First wave of Be. rebranded dispensaries will be converted in the fourth quarter, following the opening of the Brooklyn flagship; all remaining stores will be converted during the first half of 2020
What are the best cannabis (marijuana, weed, pot, MJ) stocks to invest in long term? Not every cannabis company will survive. iAnthus was included in my Top 5 Pot Stocks video as a long-term hold: https://youtu.be/eS9uLCDlXMg Let’s dig in and find out why.
Today, I’d like to share my top 3 personal finance tips to help you achieve your goals. What are your goals in life? Do you want to retire young? Travel the globe? Start your own business? Spend more time with family? Volunteer work? Party like a rock star? What are your goals in life? Do you have a plan to get there? These 3 personal finance tips should help, so let’s get started!
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Top 15 Investing Rules
Today, I’d like to share my Top 15 rules to successful stock market investing. Every game has rules, and in order to win and maximize your potential, you need to understand the rules. Each person may have his or her own rules at a micro level, but my top 15 investment rules are focused on the macro level, and they should apply to any long-term investor. The key term is “long-term investor”. There’s no get rich quick method with my approach. Long-term investing takes time, patience, discipline, and well, quite frankly, tolerance to pain. Sure, you need to eliminate all emotion when investing, but that’s much easier said than done. Even successful long-term investors like me cringe when they see huge losses. The difference is we can turn a switch and move on, focusing on what to buy when there’s blood in the streets, focusing on the long term, five, ten, fifteen years from now. I see way too many people aimlessly surfing the Internet on Facebook, Twitter, StockTwits, etc. looking for advice and stock tips, but it’s clear that the majority don’t understand the game, and they don’t have a plan. You need a plan and a set of rules that coincides with your plan. My list should help, so let’s get started!
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Is Boeing Stock a Buy? | BA Stock
What’s up everyone, Mr. Fired Up Wealth here, and today I want to discuss Boeing. Is Boeing a buy right here? There’s no question the stock has been on a tear over the past several years, and the future, at least long term, seems bright; however, recent turmoil has the stock churning and the market fearful, and for good reason. But is Boeing, stock ticker BA, a good investment? Is Boeing’s Stock A Buy Right Now? This Is What You Need To Know!
Boeing investors have had a ton to worry about lately, from the China trade war to 737 MAX crashes. The 737 MAX has been grounded worldwide after a total of 346 people lost their lives in two separate crashes involving the Boeing planes in the past year. Last October 2018, 189 passengers and crew on a 737 Max operated by Lion Air were killed when the aircraft crashed shortly after takeoff from Jakarta, Indonesia. In March this year 2019, 157 people died when an Ethiopian Airlines plane crashed after takeoff from ADD airport. The crashes were triggered by fault sensor software that forced down the nose of the plane into a dive, which the pilots could it prevent.
The company continues to extend the timelines for when the aircraft will return to service. To make things worse, Boeing is also delaying development of its new, long-range 777X, twin-aisle jet aircraft, likely because it needs to focus on returning the 737 MAX jet to service. Since the tragic March crash of an Ethiopian Airlines flight, Boeing stock has plunged around 25%, far worse than the Dow over the same time span.
Standard & Poor's, Moody's and Fitch have all warned they could also lower their credit ratings on Boeing stock, citing the 737 Max grounding. Trouble also remains in other areas, as the Securities and Exchange Commission is reportedly investigating Boeing’s financial disclosures relating to the jet's grounding. The Justice Department, FBI and the Transportation Department inspector general's office also have been looking to see if they provided misleading information about the Boeing 737 Max to regulators and customers. And now the DOJ has subpoenaed records at a North Charleston, S.C., factory where the Boeing 787 Dreamliner is made, amid allegations of poor-quality work.
What else? Last month, the company posted its largest-ever quarterly loss due to the spiraling cost of resolving issues with the MAX, warning it may have to halt production of the grounded jet altogether if regulators around the world do not give clearance for it to fly again soon. Boeing’s earnings per share growth has averaged 45% over the past three years. In Q2, Boeing reported a loss of $5.82 a share, but analysts polled by Zacks came up with earnings of $2.92 a share, down 12% from a year ago, after backing out 737 Max charges. Earlier this year, Boeing said they expect the 737 Max to return to service in Q4, and it will book an after-tax charge of $4.9 billion, or $8.74 a share, in Q2 for estimated potential payments related to the 737 Max's grounding. That follows a $1 billion charge in Q1 related to the 737 Max. In addition, Boeing delivered 38% fewer planes in the first seven months of 2019 than the same period a year earlier, as the grounding and doubts around the future of its best-selling 737 MAX jets hurt operations. Deliveries totaled 258 aircraft in the seven months through July, compared to 417 last year, and trailing far behind the 458 aircraft handed over in the same period by European rival Airbus. The numbers put Boeing on course to lose the crown of world's biggest planemaker, which it has held uninterrupted for seven years.
Okay, so what about good news? Boeing stunned at the Paris Air Show with a massive 200-plane letter of intent from the International Airlines Group, parent of British Airways. The deal, which includes 737 Max jets, is worth $24 billion at list prices. Ethiopian Airlines CEO, whose carrier lost a Boeing 737 Max in a crash, told Bloomberg during the air show that he has "more confidence" in Boeing as the aerospace giant works to fix issues with the plane's automatic flight control system.
If you bought the stock here and didn’t look for 5 years, you’d probably be very happy. With that said, the stock can go lower, and volatility will remain. It’s bad enough that the market has tons of volatility. Boeing has its own mess of problems to sort out. I’m buying here, but only nibbling. I would dollar cost average in case it goes lower. I typically purchase in 4-5 transactions. For example, if I want $10,000 in a specific individual stock, I’ll buy 4 or 5 separate times with $2,000 to $2,500 dollars. Obviously, work the math that’s best for you.
The information provided is for informational purposes only. It should not be considered legal or financial advice. You should consult with an attorney or other professional to determine what may be best for your individual needs.
Top 15 Investing Rules for Long Term Investors - Stock Market Tips - Stock Tips for Beginners
What's up everyone, it’s Mr. Fired Up Wealth here! Today, I’d like to share my Top 15 rules to successful investing. Every game has rules, and in order to win and maximize your potential, you need to understand the rules. Each person may have his or her own rules at a micro level, but my top 15 investment rules are focused on the macro level, and they should apply to any long term investor. The key term is long term investor. There’s no get rich quick method with my approach. Long-term investing takes time, patience, discipline, and well quite frankly, tolerance to pain. Sure, you need to eliminate all emotion when investing, but that’s much easier said than done. Even successful long term investors like me cringe when they see huge losses. The difference is we can turn a switch and move on, focusing on what to buy when there’s blood in the streets, focusing on the long term: five, ten, fifteen years from now. I see way too many people aimlessly surfing the Internet on Facebook, Twitter, StockTwits, etc looking for advice and stock tips, but It’s clear that the majority don’t understand the game and they don’t have a plan. You need a plan and a set of rules that coincides with your plan.
My list should help, so let’s get started!