3 Surprises in Cronos Group's Delayed Q4 Earnings Update
Cronos Group (NASDAQ: CRON) was originally scheduled to report its Q4 results on Feb. 27, 2020. However, the company delayed this update because of a review by the Audit Committee of its board of directors into the recognition of revenue related to wholesale bulk resin purchases and sales.
It took a while, but Cronos Group finally joined its peers in reporting its results for the quarter ending Dec. 31, 2019. The Canadian cannabis producer announced its 2019 fourth-quarter and full-year results after the market closed on Monday.
Unsurprisingly, Cronos said that it would need to restate its financial results for the first, second, and third quarters of 2019 based on the committee's findings. But there were several surprises in Cronos' Q4 update, including these three, in particular.
Source Fool.com
