Aurora chairman sees profitability before peers, doesn't say when [Business News Network (BNN) Energy & Resources (Canada)]
Aurora Cannabis Inc. - Common Shares (ACB)
Company Research
Source: Business News Network
Aurora chairman sees profitability before peers, doesn't say when Aurora Cannabis Inc. will reach profitability before “any of its peers,” but the company’s chairman, Michael Singer, is declining to say exactly when that will happen. Aurora said in January that it expected to achieve sustained earnings before interest, taxes, depreciation and amortization in the quarter ended June 30. It tempered that statement in August, saying it “continues to track toward positive adjusted Ebitda.” However, the metric has proved elusive, with Aurora reporting an adjusted Ebitda loss of $39.7 million for the quarter ended Sept. 30. Shares tumbled as much as 18 per cent Friday to the lowest in two years. “It has now become a core focus of our business to reach that milestone as quick as we can,” Singer said in a phone interview Friday. “We believe because of our margins and our low cost of production that we’re in a unique position to be able to deliver that to the market quicker than any of our peer
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