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Green Thumb Industries Swings to a Second-Quarter Profit

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Green Thumb Industries (GTII.CN) swung to a second-quarter profit of $0.02 per share, from a loss of $0.01 per share in the prior year period, the company said after market close on Tuesday.

The result met the consensus analyst estimate of $0.02 per share, according to FactSet. Green Thumb reported that quarterly expenses fell to $4 million, from $17.1 million.

The cannabis distributor and retailer said quarterly revenue edged up to $306.7 million, from $293.3 million, over the same period, beating the $299-million expected by analysts.

Green Thumb Industries shares closed up C$0.12, to C$10.21, on the Canadian Securities Exchange.

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