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Florida-based Trulieve Cannabis has come into its own during the coronavirus outbreak. On a Wednesday morning call reporting its strong December quarter results, the company said that sales surged recently as its medical cannabis customers stocked up.

“This behavior followed similar patterns that we have seen before hurricanes hit,” said Trulieve chief executive Kim Rivers.

Her company (ticker: TRUL.Canada) gained market share last month. Florida health-department statistics show a 17% increase in sales of cannabis oil for the state industry in mid-March, and a 37% surge for smokable marijuana. At Trulieve, oil sales rose 21% and smokable sales rose 62%.

Thanks to the state’s weekly tallies, Trulieve’s sales burst has been well-known. In Wednesday morning trading, the company’s earnings report nudged up its stock price by just a fraction of a percent, to 13.88 Canadian dollars (US$9.88). The stock is listed on the Canadian Securities Exchange.

Since Florida issued a statewide stay-home order April 1, Rivers said that sales eased back from their March heights, but that demand is still tracking ahead of 2019 levels. “We have not seen any sort of rapid decline in the market,” said Rivers.

December quarter sales at Trulieve were US$80 million, more than double the year-earlier period’s. Excluding noncash charges, earnings before interest, taxes, depreciation and amortization were $45 million—representing a 56% cash flow margin. For the 2019 year, sales were $253 million, yielding $133 million in adjusted Ebitda.

“Our leading profitability continues to set us apart in the industry,” said Rivers, on the call. With 3,000 employees, she said, Trulieve was the largest licensed cannabis employer in Florida and probably in the country.

The company’s customers spent far more in the December 2019 quarter than the prior-year period. Per-customer sales were $3,900 in December 2019, compared with $2,800 in December 2018.

She expressed hope that Florida would legalize recreational pot sales in 2022. “Florida is our backyard, and we intend to dominate this market,” said Rivers.

Write to Bill Alpert at william.alpert@barrons.com