Categories AlphaGraphs, Cannabis, Earnings

Tilray cuts down on losses despite flat revenue growth in Q3

Tilray (NASDAQ: TLRY) reported third-quarter 2020 financial results after the regular trading hours on Monday. The cannabis firm reported Q3 revenue of $51.4 million, flat year-over-year, and lower than the Wall Street projection. Meanwhile, net loss of $0.02 per share was much better than what analysts had anticipated.

TLRY shares rose 5% immediately following the announcement. The stock has fallen 37% since the beginning of this year.

Tilray Q3 2020 earnings infographic

Looking forward to listening to management/ analyst comments on Q3 results? Stay tuned here for Tilray Q3 2020 earnings call transcript

The company attributed its flat growth in Q3 revenues to the discontinuation of bulk sales and a slight decrease in Canada Medical sales. However, Tilray expects to deliver positive or breakeven adjusted EBITDA in the fourth quarter of 2020, due to the recent improvements in Q3.

Prior performance

Most Popular

HPE Earnings: Hewlett Packard Q1 2024 profit drops but beats Street view

Information technology solutions provider Hewlett Packard Enterprise (NYSE: HPE) on Thursday reported lower earnings and revenues for the first quarter of 2024. Earnings, however, exceeded analysts’ forecasts. First-quarter profit, excluding

After entering FY24 on a high note, Costco is all set to report Q2 results

Costco Wholesale Corporation (NASDAQ: COST) stands out in the retail space for its unique business model that enables the warehouse behemoth to grow store traffic and market share constantly. Currently,

Hormel (HRL) expects continued momentum from its foodservice business in FY2024

Shares of Hormel Foods Corporation (NYSE: HRL) soared over 13% on Thursday after the company delivered better-than-expected earnings results for the first quarter of 2024 and reaffirmed its outlook for

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top