Categories Cannabis, Earnings

Tilray (TLRY) to benefit in Q4 from global expansions and strategic partnerships

Tilray (Nasdaq: TLRY) will issue its fourth quarter and full-year 2019 earnings results on Monday, March 2, 2020 after the market close. Analysts expect the marijuana producer to post a loss of $0.35 per share on revenue of $55.92 million for the fourth quarter of 2019. In line with the bearish market scenario, Tilray stock tumbled to a new 52-week low ($13.20) in the first hour of today’s trading session. However, TLRY recovered from the downtrend and ended the day down 0.76%.

While the company’s loss is expected to expand further in the fourth quarter, revenue is estimated grow more than 250%, aided by the company’s global expansion initiatives and strategic partnerships like the ones with AB InBev (NYSE: BUD) and acquisitions. Tilray is expected to complete the FOUR20 acquisition by the end of Q1 2020.

Looking Back

When Tilray reported its third quarter 2019 earnings results in last November, the company’s loss per share was wider than its prior-year quarter and the consensus estimate. However, revenue surpassed the Street’s target and more than quadrupled from the prior-year level, aided by the Canadian adult-use market, the Manitoba Harvest acquisition, and growth in international medical markets.

Global Expansion

in December, Tilray entered into Switzerland to distribute medical cannabis products, from its Good Manufacturing Practices (GMP)-certified production facility, to patients in need.

The Nanaimo, British Columbia-based weed firm entered into a 2.5 tonne strategic partnership agreement with Canndoc in early January to address the growing demand for medical cannabis products in Israeli market. Tilray’s Portugal subsidiary Tilray Portugal Unipessoal Lda will export the medical cannabis to Israel. The company now exports medical cannabis to 15 countries.

Job Cuts

In order to reduce costs and achieve profitability, Tilray trimmed down its workforce by 10% in early February. The company hopes to achieve positive EBITDA in Q4 of 2020. It’s worth noting another cannabis major Aurora Cannabis (NYSE: ACB) followed Tilray and reduced about 500 jobs. Also, with the exit of CEO Terry Booth and the write-downs announced by Aurora, ACB stock witnessed a heavy sell-off.

Leadership Hires

In January, Tilray appointed Michael Kruteck as its CFO, replacing Mark Castaneda. Krutek served in various senior finacial roles in Molson Coors Beverage Company and he most recently as CFO for Pharmaca Integrative Pharmacy. The company also hired former Revlon executive Jon Levin as COO last month.

Also Read: Canopy Growth (CGC) slips to Q3 loss; stock surges on strong revenue growth

Earlier this week, analyst firm Cowen downgraded Tilray. The coronavirus outbreak is expected to impact the global manufacturing supply chain with the majority of the vape products are manufactured in China, the most affected country by COVID-19. Shares of Tilray have dropped 26% in the past 30 days and 16% so far this year.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

What to look for when CVS Health (CVS) reports Q3 earnings

Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain

eBay (EBAY): A few factors that helped drive growth in Q3 2024

Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,

CVX Earnings: Chevron reports lower revenue and profit for Q3 2024

Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to

Comments

  1. Pingback: MineFullTrader
  2. Pingback: gourmet garden
  3. Pingback: child porn
  4. Pingback: Uganda safari tour
  5. Pingback: marijuana-us.com
  6. Pingback: pc support stäfa
  7. Pingback: ivermectin dosing
  8. Pingback: business in canada
  9. Pingback: Real krt
  10. Pingback: car recycling
  11. Pingback: ivermectin flccc
  12. Pingback: madritbet
  13. Pingback: meritroyalbet
  14. Pingback: eurocasino
  15. Pingback: elexusbet
  16. Pingback: meritroyalbet
  17. Pingback: Rob Black
  18. Pingback: zwitsal
  19. Pingback: cash for cars
  20. Pingback: escorts Delhi
  21. Pingback: thrusting rabbit
  22. Pingback: canadian podcast
  23. Pingback: iver mectin
  24. Pingback: Haupia strain
  25. Pingback: Haupia strain
  26. Pingback: Platinum haupia
  27. Pingback: Bubble hash
  28. Pingback: Moroccan hash
  29. Pingback: Litto disposable
  30. Pingback: Bubble hash
  31. Pingback: ivermectin buy uk
  32. Pingback: bahis siteleri
  33. Pingback: stromectol cost
  34. Pingback: stromectol 0.5 mg
  35. Pingback: A片
  36. Pingback: uk propecia online
  37. Pingback: Grandpashabet
  38. Pingback: Autoapprove List
  39. Pingback: ABCD 1
  40. Pingback: madridbet
  41. Pingback: UAE Web designer
  42. Pingback: super car show
  43. Pingback: mpo777
  44. Pingback: download m-paspor
  45. Pingback: แทงบอล
  46. Pingback: sorority dresses
  47. Pingback: bandar slot online
  48. Pingback: f1 ferrari sainz
  49. Pingback: sa gaming
  50. Pingback: indobet slot
  51. Pingback: bisgp
  52. Pingback: agen slot
  53. Pingback: Glucotrust
  54. Pingback: ufabet168
  55. Pingback: gacor77
  56. Pingback: ギャンブル
  57. Pingback: cusat web page
  58. Pingback: meritking
  59. Pingback: fuck google
  60. Pingback: 아빠방 뜻
  61. Pingback: meritking
  62. Pingback: grandpashabet
  63. Pingback: сука пари
  64. Pingback: child porn
  65. Pingback: meritking
  66. Pingback: porn
  67. Pingback: grandpashabet
  68. Pingback: meritking
  69. Pingback: izmir escort
  70. Pingback: porn
  71. Pingback: child porn
  72. Pingback: fuck google
  73. Pingback: xxlargeseodigi
  74. Pingback: fuck google
  75. Pingback: porn
  76. Pingback: porn
  77. Pingback: bağcılar escort
  78. Pingback: porn
  79. Pingback: sex
  80. Pingback: kiropterogami adalah
  81. Pingback: çeşme transfer
  82. Pingback: edirne escort
  83. Pingback: hd porno izle
  84. Pingback: izmir travesti
  85. Pingback: izmir travesti
  86. Pingback: child porn
  87. Pingback: yasam ayavefe
  88. Pingback: kralbet
  89. Pingback: Slot88 JP
  90. Pingback: porn

Comments are closed.

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