Marijuana Company Verano Holdings Worth $2.1B, Outprices Its Expected 2024 Earnings
Despite facing retail pressures, especially in New Jersey, which is leading to an expected 5-7% dip in Q1 2024 sales, Verano Holdings (OTC: VRNOF) is still poised for growth, says senior analyst Pablo Zuanic.
State-Level Dynamics And Retail Insights
In a recent report, Zuanic provides a close look at Verano’s performance across key states, with seven of them accounting for 88% of its total retail sales of $185 million in Q4 2023.
Florida stands out as a bright spot, with an 11% sequential increase in retail sales, thanks to the addition of four stores and an overall improvement in revenue per store.
This contrasts with Illinois, where a 5% sales decrease was noted, albeit in a market that grew by 2.7%. According to the report, the influx of new store openings has diluted revenue per store figures across the industry.
In New Jersey, Verano saw a significant 13% decrease in …