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

Also Read:  Village Farms International Inc. (VFF) Q3 2020 Earnings Call

Most Popular

Earnings reports to watch for the week of Nov. 23

After starting the week on a positive note, major stock indexes witnessed volatility and slipped mid-week. Meanwhile, the S&P 500 index regained a part of the lost momentum and closed

US retailers and the holiday season – TJX Companies (TJX)

The TJX Companies Inc. (NYSE: TJX) saw sales slightly drop during the third quarter of 2021 while earnings benefited from lower tax rates. Open-only comp store sales were down 5%

Usio: An under-the-radar fintech firm

Value investors have long viewed the fintech industry as a gold mine of opportunities in the years to come, with payment processing services carrying a fair share of interest. Those

Top