Tilray (NASDAQ:TLRY) earnings for the Canadian cannabis company’s fourth quarter of 2019 have TLRY stock taking a beating after-hours Monday. This comes after reporting adjusted losses per share of -0.62 CAD on revenue of $46.94 million CAD. For comparison, Wall Street was estimating adjusted per-share losses of -0.47 CAD on revenue of $73.83 million CAD.
Here’s what else is worth mentioning from the most recent Tilray earnings report.
- Adjusted losses per share are 121.43% wider than the -0.28 CAD from the same time last year.
- Revenue for the quarter comes in 202.25% higher compared to $15.53 million CAD in the fourth quarter of 2018.
- Operating loss of -$216.62 million CAD is a 845.53% drop year-over-year from -$22.91 million CAD.
- The Tilray earnings report also includes a net loss of -$219.15 million CAD.
- This is 606.71% worse than its net loss of -$31.01 million CAD from the same period of the year prior.
Brendan Kennedy, Chief Executive Officer of Tilray, said this about the TLRY stock earnings:
“Like our peers, we have faced industry challenges, but we remain committed to driving long-term value for our shareholders. Tilray has a diversified business model comprised of global medical, Canada adult-use and hemp products which positions us well in the current volatile market environment.”
The Tilray earnings report doesn’t contain its outlook for the full year of 2020. Even so, we know what Wall Street is looking for. That includes adjusted losses per share of -$1.01 on revenue of $301.77 million.
TLRY stock was down nealry 12% after-hours Monday, while the stock closed out the day up 6.38%.
As of this writing, William White did not hold a position in any of the aforementioned securities.