Aurora Cannabis is expected to announce a quarterly deficit of roughly a billion dollars when it reports earnings Thursday.
When Aurora Cannabis Inc. announced last week that co-founder and Chief Executive Terry Booth would retire, it also revealed another loss to come: A quarterly deficit of roughly a billion dollars.
Aurora also announced a 500-person layoff, capital expenditure reductions to roughly C$100 million and restructuring of its debt. Executive Chairman Michael Singer will take the helm as interim CEO until a permanent replacement can be found. Revenue: Analysts polled by FactSet expect Aurora to report fiscal second-quarter revenue of C$61.7 million, versus C$54.2 million a year ago. But the company’s second-quarter sales are expected to decline sequentially from first-quarter revenue of C$75.2 million. The vast majority of the company’s sales are from Canadian recreational and medical cannabis.
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