22nd Century Group Inc (XXII) is not expected to release earnings reports for the third quarter of 2024. Here's why:
- Recent Developments: 22nd Century Group has recently announced significant developments, including a new agreement to produce filtered cigar products, which is expected to increase manufacturing volumes12. Additionally, the company has entered into a new contract for the export of conventional cigarettes, which is anticipated to grow overall contract manufacturing business volumes by 20%23. These developments suggest a positive outlook for the company's future performance.
- Equity Requirement Met: The company has successfully met the NASDAQ Capital Market's minimum shareholders' equity requirement, ensuring its continued listing on the exchange1. This meeting of the equity requirement indicates a stable financial position, which is typically a prerequisite for reporting earnings.
- Earnings Release Date: There is no scheduled earnings release date for the third quarter of 2024. The latest earnings report was released on August 13, 2024, and it reported a significant reduction in net loss and revenue growth initiatives45. Given the positive developments and the meeting of equity requirements, it is reasonable to assume that the company may not have an earnings report for the third quarter of 2024.
- Financial Performance: The company's financials show a significant reduction in net loss from $21 million in Q2 2023 to $1.6 million in Q2 20244. This improvement, along with revenue growth initiatives and cost reduction initiatives, suggests a financial trajectory that may not necessitate an earnings report for the third quarter.
In conclusion, based on the recent developments, meeting of equity requirements, and the absence of a scheduled earnings release date for the third quarter of 2024, it is expected that XXII will not release earnings reports for this period.