The second marijuana stock in as many days to set a date for the release of its latest quarterly results is Curaleaf (CURLF -5.94%). The U.S.-based but Canada-listed company said it will publish the results on Nov. 19 after market close.
The conference call recapping the quarter is scheduled to begin at 5 p.m. EST that day. It will follow the standard protocol of prepared remarks from company executives, followed by a question-and-answer session for listeners.
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Curaleaf's announcement came one day after similar news was divulged by peer Aleafia Health (ALEAF 10.22%). Aleafia fixed the date for its Q3 report and conference call on Nov. 12. Unusually for a marijuana stock, it has forecast a net profit for the quarter.
For Curaleaf, Q3 expectations are more muted. According to The Wall Street Journal, the consensus forecast among analysts tracking the stock is for a $0.02 per share net loss for the period.
Although Curaleaf has posted more dramatic shortfalls in the past, the market will likely not react particularly well to any red number. Marijuana stock investors are becoming increasingly impatient for companies in the industry to show convincing profitability.
In a move apparently intended to reassure investors that the company's stock won't decline suddenly and rapidly, earlier this week Curaleaf extended its share lockup period. Given that company insiders own most of Curaleaf just now, this provides some insurance to the market by guaranteeing that they won't be divesting themselves of their shares en masse and thus eroding the stock value. Prior to that, the company announced that Executive Chairman Boris Jordan had purchased another 100,000 shares of stock.
Still, in its brief life as a publicly traded company, Curaleaf has delivered a string of net losses, despite robust sequential growth on the top line. Total revenue rose from just over $21 million in Q3 2018 to more than $48 million in Q2 2019.
As with most other money-losing cannabis companies, Curaleaf stock has generally traded down of late. Over the past three months, the shares are off by nearly 26%. At least it has company -- Aleafia stock, for example, has declined by nearly 31% across the same stretch of time.
