TLRY - Tilray Brands Q3 Earnings: Another Disappointing Quarter

2024-04-09 11:53:11 ET

Summary

• Tilray Brands consistently misses quarterly targets and lacks organic growth.
• Tilray's revenue for FQ3 '24 was $188 million, missing analyst targets by $10 million.
• TLRY stock trades at 25x adjusted EBITDA targets for a company that just cut FY24 targets flat with last year.

While Tilray Brands, Inc. ( TLRY ) always tells a great story, the Canadian cannabis company doesn't actually report good numbers. The company constantly acquires businesses to generate reported growth, but Tilray isn't generating organic growth, leading to the constant view that the business is too complex to manage. My investment thesis remains Bearish on the stock after the company missed quarterly targets again....

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