| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Canadian cannabis giant Tilray Brands (NASDAQ:TLRY) reported its financial results Monday for the fourth quarter revealing revenue of $229.882 million, up by 25% year-over-year.
The company's results came in above the consensus estimate of $227.07 million, according to data from Benzinga Pro. Net loss narrowed to $15.4 million in the fourth quarter compared to net loss of $119.8 million in the prior-year quarter. For the full fiscal year 2023, Tilray disclosed a net loss of $222.4 million, compared to a net loss of $1.4 billion.
Pablo Zuanic, senior analyst at Zuanic & Associates kept a ‘Neutral' rating on Tilray stock.
“We believe TLRY should be a long-term holding in any global portfolio of cannabis stocks," Zuanic wrote in a Monday analyst note.
After missing the third quarter earnings, beating the consensus estimates in the fourth quarter is "encouraging," according to the analyst.
Zuanic further suggested that even though there are cheaper cannabis stocks, Tilray's liquidity, large market cap and notable cash balance, plus assets, make it a "more credible" long-term investment.
"In our view, the main two drivers of growth in fiscal year 2025 should be Germany (in particular, and Europe in general) and the US drinks business,” Zuanic said. “A lot remains to be seen, but we are encouraged by Tilray saying its sales in Germany have grown 65% since 4/1."
Read Also: Tilray Can Sell And Distribute Medical Marijuana To German Pharmacies, Hospitals And More
Zuanic said he prefers to stay ‘Neutral' until there is a better line of sight on several metrics.
TLRY Price Action: Tilray shares traded 8.74% higher at $1.99 per share during Tuesday's pre-market session.
Read Next:
Learn all about the future of the cannabis industry at the Benzinga Cannabis Capital Conference this October in Chicago. Hear directly from key industry players and policymakers. Get your tickets now by following this link.
Photo: Courtesy of Bigc Studio via Shutterstock
Posted In: TLRY
