California-based KushCo Holdings, a cannabis company specializing in ancillary products such as packaging, is ratcheting back its hemp revenue predictions.
The company told investors Friday that it’s retracting its 2020 hemp revenue guidance of $25 million. The announcement came as the firm announced it will miss this quarter’s revenue estimates.
The company cited a “slower-than-anticipated rollout of its hemp trading business” as one of several reasons for the miss this quarter. KushCo had been projecting $25 million in revenue from the hemp trading platform, called KushCommodities.
KushCo was more upbeat about CBD, telling investors that a partnership with a company called C.A. Fortune has resulted in placing “several CBD brands” in convenience stores and mainstream drugstores. The company did not elaborate on the brands or the retailers.
KushCo trades on the over-the-counter exchanges under the ticker symbol KSHB.
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