Cannabis company Tilray Brands (NASDAQ: TLRY) will be announcing earnings results this Monday afternoon. Here’s what you need to know.
Tilray missed analysts’ revenue expectations by 10.1% last quarter, reporting revenues of $185.8 million, down 1.4% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ gross margin 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 be flat year on year at $229.2 million, slowing from the 24.8% increase it recorded in the same quarter last year.
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 beverages, alcohol, and tobacco segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Boston Beer delivered year-on-year revenue growth of 1.5%, meeting analysts’ expectations, and Coca-Cola reported revenues up 2.1%, topping estimates by 0.5%. Boston Beer traded up 6.5% following the results while Coca-Cola was down 1.4%.
Read our full analysis of Boston Beer’s results here and Coca-Cola’s results here.
There has been positive sentiment among investors in the beverages, alcohol, and tobacco segment, with share prices up 5.5% on average over the last month. Tilray is up 72.5% during the same time and is heading into earnings with an average analyst price target of $1.04 (compared to the current share price of $0.69).
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