Tuesday's Market Minute: Previewing Tilray (TLRY) Earnings

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Tilray TLRY reports third quarter earnings before the bell tomorrow. Zacks expects it to report a loss per share of $0.08 and revenue of $160.57M. The company has still not managed to report a profitable quarter in its time as a public company, and it looks like the Street isn’t expecting it this week, either.

New Cannabis Ventures, which runs the Public Cannabis Company Revenue Tracker, recently released a report saying the sector has cut revenue growth estimates for 2022. The tracker notes that Tilray’s last quarterly revenue fell 17% Q/Q – though it did grow 43% Y/Y. Overall, the company needs to provide a path to growth in an industry that has low barriers to entry, and where it has difficulty accessing the U.S. market.

One potential spark of hope is that the House just passed a bill to legalize cannabis federally – though it is not expected to pass the Senate, according to Barron’s. The act passed previously in December of 2020, but the Senate never took it up for a vote.

Looking at the charts, Tilray has moved steadily down over the last year, falling recently to under $5, though it’s bounced slightly from there. We’ll see how shares move after its earnings report.

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This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.