Flora Growth (NASDAQ:FLGC) Announces Earnings Results, Misses Expectations By $0.31 EPS

Flora Growth (NASDAQ:FLGC) announced its earnings results on Monday. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.31), Zacks reports. The company had revenue of $13.33 million for the quarter, compared to the consensus estimate of $13.55 million. Flora Growth had a negative net margin of 30.99% and a negative return on equity of 268.17%.

Flora Growth Stock Up 2.6 %

NASDAQ FLGC opened at $0.67 on Wednesday. Flora Growth has a 52-week low of $0.59 and a 52-week high of $2.93. The company has a fifty day moving average of $0.80 and a 200-day moving average of $1.17. The company has a quick ratio of 0.64, a current ratio of 1.02 and a debt-to-equity ratio of 0.43.

About Flora Growth

Flora Growth Corp., together with its subsidiaries, engages in the growth, cultivation, and development of medicinal cannabis and medicinal cannabis derivative products worldwide. It operates through three segments: House of Brands, Commercial and Wholesale, and Pharmaceuticals. The company cultivates, processes, and supplies medicinal-grade cannabis flower, and cannabis derived medical and wellness products.