Canopy Growth (WEED) (CGC) is one of the top marijuana players in Canada. Canopy Growth is gaining traction in the United States and other parts of the world where marijuana has been legalized for medical purposes. Since the cannabis industry is in its high-growth stage, it will likely attract investors and analysts. How much growth should investors expect from Canopy Growth?
For Canopy Growth, the sales are expected to increase in the next three years. In 2019, the sales are estimated to grow 215% to 246 million Canadian dollars. In 2020, the sales are estimated to grow 238% to 832 million Canadian dollars. In 2021, the company’s growth is estimated to fall year-over-year to 71%. However, Canopy Growth is estimated to hit 1.4 billion Canadian dollars in sales.
In Constellation Brands’ last earnings release in January, it stated that Canopy Growth will reach one billion Canadian dollars in sales in the next 18 months. The company is expected to reach one billion Canadian dollars in sales in 2020, which is more aggressive than analysts’ estimates.
Next, we’ll discuss Canopy Growth’s margins.