Tilray Earnings: Cannabis Company Looks to Turn Around Losing Streak Amid Sector Optimism

Tilray (TLRY) is scheduled to report Q1 Fiscal 2024 results on October 4 before market opens.
TLRY has failed to beat earnings expectations in most recent quarters. The stock is down 17.5% year-to-date.
Inclusion in SAFE Banking Act and potential DEA reclassification of marijuana could benefit the cannabis sector.
Analysts expect Tilray to post a loss per share of $0.05 on revenues of $174.31 million.
Tilray recently acquired 8 beer and beverage brands from Anheuser-Busch, expanding its market share to 5% in the US.

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Relevant topic timeline:

10/2/2023

Tilray Acquires 8 Beer and Beverage Brands from Anheuser-Busch, Becomes 5th Largest U.S. Craft Brewer

Canadian cannabis company Tilray Brands has completed its all-cash transaction to acquire several beer and beverage brands from Anheuser-Busch, making it the fifth largest craft beer business in the U.S. and increasing its market share in the U.S. Craft Beer Market to 5%.

10/4/2023

Tilray Q1 Revenue Up 15% to $177M as Cannabis and Craft Beer Divisions Drive Growth; Net Loss Narrows

Cannabis producer Tilray reported a 15% increase in net revenue, reaching $177 million in its fiscal first-quarter, as it expands into the beer industry and strengthens its market position in Canada.