Trulieve listed on NYSE as second quarter revenue of $271M missed analyst estimates

Trulieve reported second quarter 2026 revenue of $271 million, missing analyst expectations as the company executed a major structural reorganization. The period was highlighted by Trulieve becoming the first U.S. cannabis operator to list on the New York Stock Exchange, a move facilitated by the strategic deconsolidation of its mixed-use "Harvest" operations to isolate DEA-registered medical assets.

Key Highlights

• Deconsolidated Harvest operations on June 3, 2026, to satisfy listing requirements, resulting in a $403.3 million non-cash transaction loss and a GAAP net loss of $2.10 per share.
• Adjusted net income reached $20.4 million or $0.11 per share, significantly exceeding the $0.06 estimate through optimized medical-only operations.
• Medical-only segment gross margins reached 63%, outperforming the consolidated GAAP gross margin of 60%.
• Management lowered FY2026 cash flow from operations guidance to at least $225 million, down from $250 million, to account for the Harvest separation.