Cannabis company Tilray Brands (NASDAQ: TLRY) will be reporting results tomorrow before the bell. Here’s what investors should know.
Tilray missed analysts’ revenue expectations by 3.6% last quarter, reporting revenues of $211 million, up 8.9% year on year. It was a slower quarter for the company, with a significant miss of analysts’ adjusted operating income estimates.
Is Tilray a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Tilray’s revenue to grow 9.7% year on year to $206.6 million, slowing from the 29.4% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.03 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Tilray has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Tilray’s peers in the consumer staples segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Conagra’s revenues decreased 6.3% year on year, missing analysts’ expectations by 2%, and General Mills reported a revenue decline of 5%, falling short of estimates by 2.4%. Conagra traded up 1.3% following the results while General Mills was down 3.6%.
Read our full analysis of Conagra’s results here and General Mills’s results here.
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