Shares of Village Farms International plunged 10.9% on Tuesday after the greenhouse grower reported lower-than-expected revenue for 4Q. Village Farms’ (VFF) 4Q revenue of $47.4 million fell short of analysts’ expectations of $54 million. However, the top-line result marked a 43% year-over-year gain, mainly driven by the acquisition of Pure Sunfarms and increased pricing of tomatoes. Notably, Pure Sunfarms is one of the largest licensed producers of greenhouse cannabis in Canada. The buyout added $12.8 million to Village Farms’ total revenue in 4Q. For the quarter, the company reported GAAP earnings of $0.11 per share, which topped the Street’s estimates of $0.01.
https://www.tipranks.com/news/village-farms-slips-11-on-4q-revenue-miss
Village Farms (NASDAQ:VFF)
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