Cannabis stocks in focus as Tilray beats on Q1 revenue
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Wall Street will be keenly watching the performance of cannabis stocks on Thursday after Tilray Brands (NASDAQ:TLRY) posted its first revenue beat in four quarters and shares of the Canadian marijuana player rose in the premarket.
While TLRY added ~14%
Quick Insights
Tilray Brands’ stock rose due to its first revenue beat in four quarters, stronger distribution business performance, a significant reduction in operating costs, and a swing to net income from a large net loss previously.
Tilray’s distribution business grew ~9% YoY, the cannabis segment grew ~5% YoY, and the beverage business revenue remained flat compared to the prior year.
Tilray reaffirmed FY26 adjusted EBITDA guidance of $62M-$72M, broadly in line with analyst projections of $65.1M.
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