The company’s preliminary results forecast an average selling price of $150 per pound for the period ending September 30. This figure marks a sharp retreat from the $211 per pound reported in the second quarter of 2026 and sits slightly below the $155 per pound recorded during the same quarter last year. Despite the pricing pressure, Glass House Brands anticipates revenue of $56.8 million, outperforming the $52.8 million consensus estimate from FactSet analysts.
In section Market Quotes
Glass House Brands Stock Tumbles as Cannabis Pricing Softens
A 30.4% plunge in share price on Monday underscored investor anxiety as Glass House Brands projected a significant decline in its average selling price for the third quarter. The stock, now trading at $2.22, has shed 73.6% of its value since the start of the year.
Chief Executive Kyle Kazan attributed the margin compression to seasonally lower pricing and a sales mix weighted toward trim. Higher production volumes helped buffer the impact, keeping gross profit levels relatively stable compared to the previous quarter. Looking ahead, the company maintains its full-year production target of approximately 1 million pounds, with fourth-quarter costs expected to remain consistent with current levels.
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