Monday, November 12, 2018
Home Industry News Streetwise Reports Examines CV Sciences Whose Hemp Sales Continue to Grow and...

Streetwise Reports Examines CV Sciences Whose Hemp Sales Continue to Grow and Q3 Beats Estimates

2
0

SAN FRANCISCO, Nov. 08, 2018 (GLOBE NEWSWIRE) — Fincom Investment Partners takes a look at Q3 earnings for a U.S.-based CBD company and explains why it believes it offers good value.
Company mentioned: CV Sciences Inc. (CVSI:OTCQB)CV Sciences Inc. reported Q3/18 earnings November 7, surpassing our expectations, a solid beat. Our prior estimation of CVSI hitting the all-important $50 million sales run rate is confirmed. Top line Y/Y sales growth was over 143%. Our realistic growth expectations indicated Q3/18 revenues would hit $13.3 million; they came in nicely at $13.6. Sequential sales growth hit 10%, exceeding our 8% estimate; this roughly extrapolates to a 45% annual growth rate.Our quick annualizing of the prior two quarters’ basic earnings of $0.04 suggests a net earning run rate of $0.16, which places CVSI at a PE of 34—quite fair for a 45% or 143% Y/Y (take your pick) growth story—and this one has “legs.” For sure, CV’s net earnings look a downright steal compared to most in the cash-hemorrhaging cannabis sector.We expected continued strength in gross margins, which hit 73%. Continued strong Q3 gross profit at $9.9 million, for a 149% Y/Y jump. Net GAAP earnings matched our estimate of $3.3 million at $3.295, and retail store count hit 2093.Investors interested in cannabis exposure should favor U.S.-based, high-margin, profitable and rapidly growing CV Sciences.Continue reading this article: Hemp Sales Grow at CV Sciences: Q3 Beats Estimates, 2019 OutlookAbout Streetwise ReportsStreetwise Reports shares investment ideas in many sectors. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.DISCLOSURE:The following companies mentioned are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.Frederick Lacy: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: CV Sciences. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company currently has a financial relationship with the following companies mentioned in this article: None. The full disclosure is provided at the end of the published article: Hemp Sales Grow at CV Sciences: Q3 Beats Estimates, 2019 OutlookFor more information, please contact Carmen Guzman, .

Original story can be found at: http://globenewswire.com/news-release/2018/11/08/1648350/0/en/Streetwise-Reports-Examines-CV-Sciences-Whose-Hemp-Sales-Continue-to-Grow-and-Q3-Beats-Estimates.html?f=22&fvtc=5&fvtv=41223728