Aurora Cannabis Inc. (ACB) Reports Q3 Loss, Tops Revenue Estimates

Company Performance - Aurora Cannabis Inc. reported a quarterly loss of $0.02 per share, compared to the Zacks Consensus Estimate of a loss of$ 0.01, and a loss of $0.14 per share a year ago, indicating an earnings surprise of -100% [1] - The company posted revenues of$ 53.34 million for the quarter ended December 2023, surpassing the Zacks Consensus Estimate by 16.10%, and up from $50.95 million year-over-year [1] - Over the last four quarters, Aurora has surpassed consensus revenue estimates three times [1] Stock Performance - Aurora Cannabis Inc. shares have declined approximately 16.8% since the beginning of the year, while the S&P 500 has gained 4.7% [2] - The current consensus EPS estimate for the upcoming quarter is breakeven on revenues of$ 51.14 million, and - $0.07 on revenues of$ 197.29 million for the current fiscal year [4] Industry Outlook - The Medical - Products industry, to which Aurora belongs, is currently in the bottom 33% of over 250 Zacks industries, indicating potential challenges for stock performance [5] - Another company in the same industry, Perrigo, is expected to report quarterly earnings of $0.83 per share, reflecting a year-over-year change of +10.7%, with revenues projected at$ 1.19 billion, up 2.7% from the previous year [5]