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OrganiGram: Fiscal Q2 earnings snapshot

May 14, 2024  By The Associated Press


TORONTO (AP) — OrganiGram Holdings Inc. (OGI) on Tuesday reported a loss of $20.1 million in its fiscal second quarter.

On a per-share basis, the Toronto-based company said it had a loss of 22 cents. Losses, adjusted for non-recurring costs, came to 12 cents per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.

The cannabis producer posted revenue of $27.9 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $28.3 million.

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