Quarterly results from the U.S.’s largest cannabis company Curaleaf Holdings Inc. and Canada’s Canopy Growth Corp. missed analyst estimates, while Ascend Wellness managed to beat forecasts.
Curaleaf’s third-quarter revenue rose to $333.17 million from $324.64 million, but missed the analyst estimate of $340.2 million. Canopy Growth Corp. CGC, -10.01%, the Canadian cannabis company backed by Constellation Brands Inc. STZ, -1.06%, reported a second-quarter loss of 31 cents a share, while analysts were looking for a loss of 11 cents a share, according to FactSet data.On the plus side, Canopy Growth said its Canadian cannabis business booked its third straight quarter of organic revenue growth, while “significantly” cutting costs.Ascend Wellness AAWH, +0.