Grown Rogue International Stock Earnings Reports

Grown Rogue reported a constructive Q1 2026 update focused on executing multi-state growth projects while remaining disciplined around federal regulatory uncertainty. Key operational updates: Phase 2 in New Jersey will begin harvesting a new flower room this month and the facility should be fully completed in 2026; the Dwight, Illinois facility has modest infrastructure work remaining and occupancy approvals are expected this quarter; Minnesota construction is underway with a target to have plants in the building in late Q3. The company modestly raised revenue guidance and management believes they will be at the higher end of adjusted EBITDA guidance, while keeping guidance ranges unchanged. They rolled out strain-specific vape cartridges in Oregon via third-party manufacturing with favorable early consumer feedback and plan cautious scaling into other markets. Low-cost cultivation technology upgrades (LEDs and a new non-specified yield-improving technology) have been rolled out or are being deployed across facilities and management expects 20–30% yield improvements with quick payback. The team completed U.S. GAAP restatements for 2025 filings and adjusted certain KPI calculations for comparability. Michigan’s new 24% adult-use excise tax is being invoiced through to customers (with negotiation/price impact), which reduced profitability in Q1 and will continue to pressure margins on a comparative basis. The company emphasized brand strength, high package-sell-through in New Jersey (97%), and a measured approach to opportunistic moves like obtaining medical licensure in Oregon to preserve optionality around any future interstate commerce changes.