(Reuters) – Trulieve Cannabis Corp reported a fall in its adjusted core profit for the fourth quarter on Wednesday, as demand for cannabis-related products scaled back after a pandemic-led surge amid regulatory challenges, inflation and a dip in prices.
The company had said in November that it would be lowering production to match the dip in demand.
“In 2023, we are laser focused on cash generation while investing to build a sustainable company designed to thrive in an integrated commerce environment,” said Chief Executive Kim Rivers in a statement.
The Florida-based company’s adjusted core profit fell to $85 million in the quarter ended Dec. 31, from $100.9 million a year earlier.
(Reporting by Sourasis Bose in Bengaluru; Editing by Shailesh Kuber)
