TLRY - Tilray Stock Is Tumbling Tuesday: What's Going On? | Benzinga
Tilray Brands Inc (NASDAQ:TLRY) shares are getting smoked Tuesday after the company missed earnings estimates and said it no longer expects to generate positive adjusted free cash flow for full-year 2024.
What Happened: Tilray reported third-quarter revenue of $188.34 million, up approximately 30% year-over-year. The number came in below the consensus estimate of $198.5 million, according to data from Benzinga Pro.
Cannabis net revenue increased 33% to $63.4 million in the quarter, while beverage-alcohol net revenue jumped 165% to $54.7 million. Distribution net revenue fell to $56.8 million in the third quarter. Wellness net revenue increased 12% to $13.4 million.
Tilray reported gross profit of $49.4 ...