Earnings ·
Cresco Labs Inc. reported second quarter 2026 financial results for the period ended June 30, 2026
CRLBFCresco Labs Inc.
Cresco Labs Inc. reported second quarter 2026 financial results for the period ended June 30, 2026. Net revenue increased 5.9% to $173.3 million, driven by dispensary acquisitions in Pennsylvania and retail growth in Ohio. Gross profit rose 4.4% to $86.9 million, while SG&A expenses increased 27.2% to $73.6 million due to higher salaries and professional fees. The company reported a net income of $15.4 million, a significant turnaround from the $13.9 million loss in the prior year period, primarily attributable to a $19.0 million income tax benefit resulting from the removal of IRC Section 280E restrictions for state-licensed medical cannabis operations effective April 22, 2026. Adjusted EBITDA was $40 million. Additionally, Chief Financial Officer Sharon Schuler stepped down, with Mark Stortz serving as interim CFO. Cresco Labs Inc. operates in the cannabis industry, cultivating and distributing branded cannabis products through its Sunnyside retail dispensaries.