GATINEAU, Quebec (AP) — GATINEAU, Quebec (AP) — HEXO Corp. (HEXO) on Wednesday reported a loss of $86.4 million in its fiscal third quarter.
The Gatineau, Quebec-based company said it had a loss of $1.94 per share. Losses, adjusted for asset impairment costs and costs related to mergers and acquisitions, were 70 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.
The cannabis producer posted revenue of $15.6 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $18.5 million.