Green Thumb, Trulieve, Ascend All On The Rise In Second Quarter

Multistate operators Green Thumb, Trulieve, and Ascend Wellness all posted solid sales increases in the second quarter of the year. At Green Thumb, revenue rose 11% year-over-year to $280 million, while adjusted EBITDA jumped 24% to $94 million, representing 34% of sales. Growth was driven by 11 new Rise dispensaries, as well as the addition of adult-use sales in Maryland, partially offset by price compression.

Trulieve’s sales grew 8% to $303 million for the quarter, as adjusted EBITDA rose 36% to $107 million, or 35% of sales. With new dispensaries online in Florida, Ohio, and Pennsylvania, Trulieve now has 206 locations nationwide, 32% of them in Florida, where it’s a key backer of the adult-use initiative set to go before voters this fall.

Elsewhere, Ascend Wellness saw revenue increase 15% to $142 million in the three months through June, and adjusted EBITDA registered $28 million, up 33% versus the prior year. “This growth was led by an impressive increase in the number of wholesale customers, the opening of seven retail dispensaries, and the acquisition of four dispensaries in Maryland which later began selling adult-use,” said Ascend CEO John Hartmann.—Daniel Marsteller

Tagged : Ascend Wellness, cannabis, Green Thumb, Trulieve

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