No one was happy with Canopy Growth‘s (NYSE:CGC) fiscal 2019 fourth-quarter results announced in June. The Canadian cannabis producer’s big partner, Constellation Brands, expressed its unhappiness forthrightly in its Q1 conference call a week later. Soon thereafter, Canopy Growth founder and longtime CEO Bruce Linton received his walking papers.
Canopy reports its fiscal 2020 first-quarter results after the market closes on Wednesday. I suspect that investors will be at least somewhat happier this time around. Here’s what you can expect with Canopy Growth’s Q1 results.
1. Stronger sales growth
This prediction is pretty much a no-brainer. The main question is just how much stronger Canopy Growth’s sales growth will be in Q1.
Canopy’s overall revenue increased in the fourth quarter despite the company reporting lower quarter-over-quarter adult-use recreational marijuana sales and lower medical cannabis sales. The company’s acquisition of German vaporizer device maker Storz