LFTD Partners (OTCQB: LIFD), the corporate parent of leading cannabis and psychedelics manufacturer Lifted Made, is reporting on its second quarter 2022, which is the period ended June 30, 2022. Highlights of the report include revenue for the quarter totaling $16,776,502, a 151% increase from the $6,695,144 reported in Q2 2021, and an increase in operating margin of 3.14%, with Q2 2022 coming in at 26.40%. GAAP net income from the quarter increased — the eighth consecutive quarter of upward movement — totaling $3,219,460 up from $1,596,154 the same period last year. The company reported a 64% increase in basic earnings per share (“EPS”), which went up from $.14 in second quarter 2021 to $0.23 per share Q2 2022; diluted EPS was also up, showing an 82% increase from $0.11 to $0.20 per share. The company noted that basic and diluted weighted average shares outstanding for the three months were 14,099,007 and 15,906,205, respectively. LFTD reported more than $3.751 million cash on hand at the end of the quarter, with an increased inventory of $10,049,245, up from $3,809,944. The company’s current assets totaled $19,678,947, a 50% increase over the same period last year, with working capital going up 725%, totaling $10,284,320, up from $1,246,426. “Q2 2022 was a record quarter for us in terms of net income, earnings per share and free cash flow,” said LFTD Partners COO and vice chair and Lifted Made founder and CEO Nicholas S. Warrender in the press release.
To view the full press release, visit https://cnw.fm/Tq18F
About LFTD Partners Inc.
LFTD Partners is focused on acquiring rapidly growing and profitable companies that sell branded hemp-derived cannabinoid products, emerging psychedelic products and other alternative lifestyle products. LFTD Partners’ first wholly owned subsidiary is Lifted Made, which sells award-winning, hemp-derived cannabinoid products and other psychedelic and alternative lifestyle products under its flagship brands Urb Finest Flowers and Silly Shruum. LFTD Partners also owns percentages of CBD-infused beverage and products maker Ablis and distillers Bendistillery Inc. (d/b/a Crater Lake Spirits) and Bend Spirits Inc., all located in Bend, Oregon. For more information about the company, please visit www.LFTDPartners.com and www.LiftedMade.com.
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