Tilray, Inc. (TLRY) Tops Q3 EPS by 19c

Tilray, Inc. (NASDAQ: TLRY) reported Q3 EPS of ($0.02), $0.19 better than the analyst estimate of ($0.21). Revenue for the quarter came in at $51.4 million versus the consensus estimate of $54.88 million.

Outlook:

Given the broad based improvements we have achieved through the third quarter of 2020, we believe we are poised to deliver positive or break even Adjusted EBITDA in the fourth quarter of 2020. Looking to 2021 we are optimistic about the prospects for our core businesses including:

• Canada Adult Use – we see continued opportunities to leverage our Kindred partnership structure and focused selling strategy to grow market share and revenues
• International Medical – the completion of our Portuguese facility and our brand strength will allow us to strengthen our International footprint and position Tilray for “first mover” advantage as new international markets legalize medical and/or recreational cannabis
• Hemp Products – our market reach will allow us to leverage the plant based food trends in the United States and broaden our product offerings to include CBD once the FDA provides guidance on a nationwide basis

Our diversified product offerings and geographical footprint set Tilray apart. These strategic advantages provide us a foundation from which we see ample and continued opportunity to strengthen our position as the most trusted cannabis and hemp company during 2021.

For earnings history and earnings-related data on Tilray, Inc. (TLRY) click here.

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