Aurora shares added 10.3% to close at $6.83 after the company said it expects to C$100 million to C$107 million of quarterly revenues when final numbers come out around Sept. 15. By contrast, ACB only generated C$19.1 million in revenue during the same period last year.
"We set out to be best-in-class cultivators, and through carefully evaluated acquisitions, that vision continues to drive exceptional results today. We are the leader in cultivation capacity, production available for sale and revenues for cannabis in the Canadian medical and consumer markets," CEO Terry Booth said in announcing the stronger-than-expected revenue estimate.
Aurora's success helped lift the entire cannabis sector Tuesday. Among other winners, Canopy Growth (CGC - Get Report) rose 3.2% to close at $32.39, Tilray (TLRY - Get Report) climbed 0.6% to $42.53, Aphria (APHA) gained 2.1% to $7.18 and CannTrust (CTST - Get Report) added 0.7% to $2.19.