Parent of Kush Supply Co. KushCo Holdings, Inc. KSHB is a publicly traded company and the parent company to a diverse group of business units that are transformative leaders in the cannabis and CBD industries. Our subsidiaries provide exceptional customer service, product quality, compliancy knowledge and a local presence in serving its diverse customer base.
Our brands include Kush Supply Co.Toyota rav4 ecu problems
Founded inKushCo has now sold more than 1 billion units and regularly services more than 6, legally operated medical and adult-use growers, processors, and producers across North America, South America, and Europe. We maintain facilities in the five largest U.
KushCo strives to be the industry leader for responsible and compliant products and services in the cannabis and CBD industries. While KushCo services all facets of the cannabis industry, it has no direct involvement with the cannabis plant or any products that contain THC.KushCo - "Trap Van" (Official Video)
KushCo Holdings Inc. Company Information. Providing Specialized Solutions for the Cannabis Market. View Presentation View Management Team. Kushco at a Glance.Cannabis stocks got a boost this month due to the sudden surge in marijuana sales. However, the sector still has challenges.
KushCo Holdings reported its results for the second quarter of fiscal after the markets closed on April 8.
Sequentially, the revenue declined by KushCo attributed a slow rebound in its vape hardware products as one of the reasons for lower revenues. The vape crisis in the illicit market has taken a toll on many cannabis companies. The company mentioned these factors during its first-quarter earnings call.
Notably, the company faced a supply issue in California. Bad credit conditions in California led to an increase in the bad debt expense. The company reported continued sequential growth in its key markets of Illinois, Michigan, Massachusettsand Canada.
Cannabis companies, especially in the US, have faced financial difficulties for a while. In the US, cannabis is still illegal at the federal level. KushCo is a California-based company. Marijuana is legal in the state.
Financial institutions still avoid providing any kind of help due to fears about facing federal issues. Most states have declared that cannabis is an essential item. As a result, companies run their businesses as usual. They will also have to provide their employees with benefits without receiving any benefits from the government. Many senators and cannabis trade groups want the SBA to provide relief for cannabis companies amid these challenging times.
Production and shipment delays are possible. Cannabis companies in the US and Canada want to stay operational amid the pandemic. Recently, Ontario removed cannabis from the essential business listwhich will impact recreational cannabis sales in the region.
On April 8, Hexo fell by 2. Despite the dismal results, KushCo stock rose 8. Most analysts are also bullish on the stock.Don't Know Your Password? ZacksTrade and Zacks. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. OK Cancel.Emporia ks drug bust
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This is an estimated date of earnings release. Neither Zacks Investment Research, Inc.The marijuana industry absolutely transformed before our eyes in After decades of being a taboo topic, legal weed became a legitimate business model with the passage of the Cannabis Act in Canada.
The same could be said for the U. With 32 states having legalized weed in some capacity, 10 of which allow adult-use pot, the dollars are starting to roll in. It also just so happens that my favorite pot stock reported its fiscal first-quarter operating results last week, which includes a period of time after Canada had legalized recreational marijuana.
As you might imagine, there were a number of positives in KushCo's report, but also two negatives that demonstrate no marijuana stock is a sure thing, favorite or not. Easily the most exciting aspect of KushCo's quarterly report was its top-line results. This pretty clearly shows that KushCo's ability to penetrate niche aspects of the cannabis industry are working like a charm. For those of you may not be as familiar with KushCo, this is a company that's best known for its packaging and branding solutions for the marijuana industry.
Furthermore, since competition is on the rise, the company facilitates packaging design and branding to help pot-based businesses and brands stand out. The other thing investors should love about KushCo's Q1 report is the company's niche position in the wake of the Farm Bill becoming law in the United States.
CBD is the nonpsychoactive cannabinoid best known for its medical benefits. Aside from packaging and branding solutions, KushCo is also a major player in the hydrocarbon gases and solvents business.
Hydrocarbon gases are needed in the production of cannabis oils, such as hemp-based CBD oils. In other words, demand for these high-margin products should rise now that they're legal, putting KushCo in a position to thrive. Said CEO Nick Kovacevich, "With the recent signing of the Farm Bill into law on December 20th to legalize industrial hemp, we expect to see more large-scale production and sale of CBD oil and related products, fueling demand for our packaging, supplies and labeling solutions, as well as for our solvents and marketing and branding services.
As an addendum, Kovacevich also spoke of his expectation that KushCo's vaporizers would see an uptick in demand as vape products are expected to get the nod in new markets in But it wasn't a perfect report.
There were two figures that stood out as worrisome for investors. According to the press release, "rapid demand for product and timing of inventory purchases leading up to Chinese New Year have resulted in a decreased cash position and overall working capital headwinds, through which, the Company is actively managing. Because KushCo operates in the U. While common stock issuances have worked wonders in terms of raising capital for the weed industry, they also weigh on the value of existing shares, and can lessen earnings per share for profitable companies.Supplying marijuana companies with solutions that keep regulators happy is fueling tremendous growth but the company's experiencing growing pains.
On April 9, management admitted an accounting mishap that requires it to restate its and financials. KushCo is best known for marketing bottles used by growers and dispensaries to package marijuana for retail sale but it also makes packaging for single-roll products, vapes, and edibles. Kushco is one of the largest suppliers of packaging that meets regulatory requirements, so demand for its products has skyrocketed following legalization of recreational marijuana use in key markets, including California and Canada.
Its growth isn't all from packaging, either. KushCo went on a spending spree last year, acquiring businesses that provide marketing solutions and products used to extract chemical cannabinoids, including cannabidiol CBDfrom marijuana and hemp. As a result, the company's becoming an increasingly diversified and important vendor.
Its rapid growth hasn't come without hiccups. Kushco was once a profitable company, but increasing demand has outstripped inventory and production, causing supply shortages that have boosted expenses.
To fulfill surging demand, KushCo had to invest in new facilities and in some cases, use expensive shipping methods to make sure products reached its customers on time. Because of these costs, KushCo's gross profit margin fell to It turns out supply problems weren't its only growing pains, though. In the past, KushCo's CFO duties were handled by the company's chief operating officer COOand that may have contributed to an accounting misstep following its acquisitions. Previously, Tedford's served as chief accounting officer at Confie, a personal and commercial insurance broker and CFO of Pacific Sunwear of California, a specialty retailer.
One of Tedford's main goals at KushCo is establishing Sarbanes-Oxley Act compliance, a target necessary to deliver on KushCo's plans to list shares on a major market exchange. As part of this process, it appears he discovered problems with how the company accounted for non-cash items related to its acquisitions of CMP Wellness, Summit Innovations, and Hybrid Creative.
Instead of recording contingent consideration relating to earn-out arrangements as liabilities, with fair value changes recorded on its operating statements, it recorded them as equity. Correcting this mistake will require KushCo to file amended annual reports that:. Management says the changes have "no impact on its net revenue or gross profit for any of the restated fiscal periods, and no impact on its cash flows from operations for any of the restated fiscal periods.
To be clear, investors should be concerned that prior controls weren't in place to make sure this mistake never happened. However, the silver lining in this appears to be the only error identified by the CFO and a national accounting advisory firm hired by KushCo in February to "assist with the design and implementation of its internal controls over financial reporting.
Management plans to discuss the details of its restatement during its fiscal second quarter earnings conference call on Thursday, April 11, so investors will want to tune in to see what's said. If this is the only accounting snafu, then investors might want to chalk this up as an unfortunate accounting oversight by a young, fast-growing company.
Is Marijuana Stock KushCo Holdings' Bad News Good News?
Investors will also want to pay attention to see if separating the CFO and COO roles allowed the company to make progress on addressing its supply shortages. If management's reduced the need for expensive measures like overnight shipping, it could help its bottom line considerably.
Last quarter, KushCo's management said it hopes to deliver improving gross margins in the "second half of fiscal ," so it will be important to see if that timeline changes. Apr 10, at PM. Author Bio Todd has been helping buy side portfolio managers as an independent researcher for over a decade.
KushCo Holdings, Inc. (KSHB)
InTodd founded E. Capital Markets, LLC, a research firm providing action oriented ideas to professional investors. Follow ebcapital.
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Please use Advanced Chart if you want to display more than one. KushCo Holdings Inc. KushCo Holdings, Inc. It offers pop-top bottles; child resistant exit, paper exit, and foil barrier bags; tubes;…. It offers pop-top bottles; child resistant exit, paper exit, and foil barrier bags; tubes; and polystyrene, silicone-lined polystyrene, and glass containers.
The company also provides vaporizer cartridges and accessories, heating technologies, batteries, and disposable units; and hydrocarbon gases, including isobutene, n-butane, propane, ethanol, pre-mixes, custom blends, and other solvents.Web2py remote code execution
Its products are used by urban farmers, green house growers, processors, brand owners, and medical and recreational cannabis dispensaries. In addition, the company operates a creative design agency for cannabis and non-cannabis clients that provide brand strategy, design and marketing, Web application development, and e-commerce solutions.
It sells its products directly, as well as through Website and re-distributors. The company was formerly known as Kush Bottles, Inc. Learn more.Tara montpetit
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KushCo Posted Disappointing Q2 Results, Stock Rose 8%
Search fidelity. Investment Products. Why Fidelity. Your browser is not supported.New York Markets Close in:. Market Snapshot Winners and Losers. VolumeKushCo Holdings, Inc. Its brands include Kush Supply Co. The company was foun KushCo CFO to depart amid restructuring plan. KushCo pulls full-year guidance and warns on second-quarter revenue. Coronavirus and cannabis: Vape supply is a concern due to China shutdown. Cannabis packager KushCo revenue damaged by vape crisis. Weed stocks rally on last day of a brutal year.
How to take advantage of the January Effect in the U. KushCo stock falls after Benchmark downgrade on concerns vaping-related lung illness will hurt sales. KuschCo Q1 revenue miss due to vaping-related health issues. Recreational marijuana legal in Illinois. Home-builder confidence plummets to lowest level since as coronavirus disrupts construction activity. Stock-market decline accelerates; Dow tumbles 2. Empire State manufacturing index plunges to record low in April.
Industrial output in March suffers largest drop since Home-builder confidence plummets to lowest level sinceNAHB says. Elizabeth Warren endorses Joe Biden for president.
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