Tilray Brands, Inc. (NASDAQ:TLRY) will release its financial results on Oct. 10, 2024 before financial markets open and host a live conference call to discuss the results at 8:30 am ET the same day.
In July, Tilray reported fiscal fourth-quarter revenue of $229.882 million, up approximately 25% year-over-year. Cannabis net revenue increased 12% to $71.9 million in the quarter, while beverage-alcohol net revenue jumped 137% to $76.7 million for the period.
Irwin Simon, chairman and CEO of Tilray Brands said at the time that the company is "leading the convergence of cannabis, beverages, and wellness on a global scale."
Simon has spoken at previous Benzinga cannabis events sharing valuable tips for businesses within the burgeoning industry. The upcoming two-day event, the 19th Benzinga Cannabis Capital Conference, returns to Chicago this Oct. 8-9. Get your tickets now before prices surge by following this link.
Pablo Zuanic, senior analyst at Zuanic & Associates wrote in his post-earnings analyst note that "TLRY should be a long-term holding in any global portfolio of cannabis stocks," adding the company's liquidity, large market cap and notable cash balance, plus assets, make it a "more credible" long-term investment.
Read Also: Tilray CEO On Future Of Cannabis And Federal Rescheduling: 'We Did Not Sit Back And Wait'
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Recent Moves
In early September, Tilray closed on acquisitions of four U.S. breweries from from Molson Coors Beverage Company (NYSE:TAP). The acquisitions of Hop Valley Brewing Company,Terrapin Beer Co., Revolver Brewing and Atwater Brewery, bolstered the company's leadership position in the U.S. craft beer market as the 5th largest craft brewer in the country and top craft brewer in the Pacific Northwest and Georgia.
Meanwhile, Tilray did not neglect the cannabis side of its business.
In August, the company announced the release of its latest small-batch flower strain, Milk & Cookies, under its premium cannabis brand Broken Coast.
In addition to the launch of Redecan EU-GMP-certified medical marijuana products in Australia, Tilray also introduced a new line of hemp-derived Delta-9 THC beverages across key U.S. markets in September.
- Tilray Acquires $23.8M Promissory Note In Deal With Double Diamond On Heels Of Brewery Acquisition
TLRY Price Action
Tilray's shares traded 0.8523% lower at $1.745 per share at the time of writing on Tuesday morning.