Valens turns profitable, CannTrust comeback strategy, Aphria earnings and more

Valens GroWorks turns the corner on profits

On Oct. 16, Valens GroWorks (TSX: VGW)?posted its first-ever profitable quarter?in the third quarter. The company beat consensus estimates for revenue, EBITDA, net income and EPS.

CEO Tyler Robson noted that the results were aided by a one-time contract.The CA$5.9 million of net income was particularly strong compared with the CA$2.1 million estimate.

But that contract accounted for only about CA$1 million of revenue, so even excluding that revenue, it still would have been a very strong beat on net income.

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