In the first nine months of 2018, CannTrust Holdings’ (CNTTF) net income was 12.0 million Canadian dollars—compared to 632,269 Canadian dollars during the same period the previous year. In the third quarter, CannTrust Holdings’ net income was 421,240 Canadian dollars—compared to 655,309 Canadian dollars during the same period the previous year.
In the first nine months of 2018, CannTrust Holdings reported a diluted EPS of 0.12 Canadian dollars—compared to 0.01 Canadian dollars during the same period the previous year.
In December, CannTrust Holdings updated its expansion plans. The company plans to expand its production capacity to 50,000 kilograms per year. CannTrust Holdings expects its first harvest from the expansion in the first quarter. The final construction is expected to be completed by January 2019.
CannTrust Holdings also received permission to build a greenhouse facility. CannTrust Holdings built a 35,000 square foot greenhouse facility next to the company’s current greenhouse.
Expanding the company’s production capacity should boost CannTrust Holdings’ revenue growth. CannTrust Holdings’ revenue growth could boost the ETFMG Alternative Harvest ETF’s (MJ) revenue growth. CannTrust Holdings accounts for ~4.68% of MJ’s total portfolio holding.
In November, CannTrust Holdings sent its CBD oil capsules to Gold Coast University Hospital in Australia. The capsules will be studied to determine whether they safely and efficiently lower the disease progression in individuals with ALS (Amyotrophic Lateral Sclerosis) and MND (Motor Neuron Disease). CannTrust Holdings wants to determine cannabis products’ medicinal value. Gold Coast University Hospital in Australia will evaluate CannTrust Holdings’ CBD oil for treating individuals with ALS and MND. The study will also include associated outcome measures for ALS like pain, spasticity, and weight loss.
Cannabis research could uncover broader business potentials for medicinal cannabis, which could boost CannTrust Holdings’ growth.