Trulieve Cannabis Corp.
TCNNF,
-0.58%
TRUL,
+0.52%
said Thursday it had net income of $30.1 million in the first quarter, up from $23.6 million in the year-earlier period. The multistate cannabis operator, which said Monday it has agreed to acquire Harvest Health & Recreation Inc. in an all-stock deal valued at about $2.1 billion, did not offer per-share numbers. Revenue rose $193.8 million from $96.1 million a year ago and $168.4 million in the fourth quarter. The FactSet consensus was for net income of $34.7 million and revenue of $189.2 million. "Our continued strength in our home state of Florida, as well as the build out of our northeast hub, with progress in Pennsylvania, Massachusetts and West Virginia, has generated momentum for an exciting remainder of the year," Chief Executive Kim Rivers said in a statement. Shares were not active premarket, but have gained 25% in the year to date, while the Cannabis ETF
THCX,
-4.83%
has gained 26% and the AdvisorShares Pure US Cannabis ETF
MSOS,
-2.41%
has gained 11%.