Aurora Cannabis (NYSE:ACB) Exec Says Positive EBITDA Would Be ‘Game-Changer’ – Benzinga

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Aurora Cannabis Inc (NYSE: ACB) Executive Chairman Michael Singer was a guest on CNBC’s “Fast Money” segment Wednesday to discuss the cannabis company’s third-quarter earnings report and outlook.

Aurora’s Priorities 

Aurora continues to expand its international footprint after establishing a first-mover advantage in most of the 24 countries in which it operates, Singer told “Fast Money” host Melissa Lee.

The U.S. market is “too big to ignore,” Singer said, adding that the company is in the middle of “creating a very unique strategy” to address the CBD segment within existing federal laws that are likely to ease over time.

The company’s Australis Capital subsidiary, a small multistate operator, will “play a part” in Aurora’s broader U.S. strategy, he said. 

Aurora is evaluating new partnerships with the help of strategic adviser Nelson Peltz, Singer said. The high-profile activist investor has many connections within the consumer goods and pharmaceutical spaces, he said. 

The ultimate “end-game” for Aurora to finalize and sign an agreement with a major consumer products company, the exec said. 

“They take time [and] we are very patient,” he said.

Road To Profit

Aurora offered the Street a 2019 outlook in January that forces the company to take a “very disciplined” approach to its business, Singer said. One of the financial metrics includes a path to becoming EBITDA-positive in the fiscal fourth quarter. 

 Based on the company’s first quarter performance, Aurora is “on track” to hit its guidance, the executive chairman said. 

“That’s a game changer for us.” 

Related Links:

Analyst: Aurora Cannabis May Be ‘Missing The Boat’ In Beverages

Aurora Cannabis Reports Extension Of Exclusive Supply Relationship With Luxembourg

Photo courtesy of Aurora Cannabis. 

© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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