Canopy Growth (CGC) was trading lower on Thursday ahead of its third-quarter results scheduled for January 6, before the bell. The stock was down 2.59% to $1.13.
The company is projected to report a 17% fall in its revenue to C$70.96M. The consensus EPS estimate is C$0.05.
In the previous quarter, the company’s CFO, Thomas Stewart, projected Canada medical cannabis top line to continue its growth in the second half of fiscal ’26. He projected revenue in the international markets to remain generally consistent with the second quarter levels, with growth expected as they exit the fiscal year.
Stewart also estimated improvement in cannabis gross margin through the third and fourth quarters, driven by top-line growth, additional production efficiencies and cost savings.
The company expects improved performance in the Canadian adult-use channel, driven by a robust innovation pipeline of focused product formats and tight alignment with cannabis boards and retailers. Storz & Bickel is anticipated to deliver stronger performance through the remainder of fiscal 2026, supported by the successful VEAZY launch late in the second quarter and continued momentum from holiday season sales, he added.
Both Seeking Alpha and Wall Street analysts have rated the stock as Hold, but it has a Buy rating from Seeking Alpha’s Quant ratings. The stock has declined nearly 2% in the year so far compared to a +0.54% movement in the broader markets.