Tilray to release financial report today

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The earnings update is expected after the markets close this afternoon

Aurora Cannabis and Canopy Growth, both of which are traded on the NYSE, have already released their fourth-quarter earnings statement. It’s now Tilray’s turn, and the cannabis company has said that it will release its statement after the markets close this afternoon.

The third-largest cannabis company by market cap is expected to announce that it has had skyrocketing sales as a result of the growing recreational marijuana market. Given that Tilray has its largest presence in Canada, where recreational marijuana was legalized last year, this won’t be a surprise. Analysts are predicting that sales could bump Tilray’s revenue to as high as $18.8 million, with an average projection of $14.5 million. If it only releases average results, it will still be a 45% increase over last year.

Tilray, which is traded on NASDAQ, is also expected to report an increased demand for in the medical cannabis community. This would be in line with what was reported by Aurora and Canopy, both of which have stated that medical cannabis demand increased in the days and weeks prior to Canada’s legalization of recreational marijuana.

An international portfolio that includes Germany and other countries isn’t expected to give Tilray a tremendous boost. The company has been relatively quiet on the exact financial details of its international business, only briefly mentioning on previous earnings calls that it was moving forward with international expansion plans.

It’s possible that Tilray will report an overall net loss for the quarter. The company lost $18.7 million in the third quarter, which amounted to $0.20 per share, and this trend could continue through the fourth quarter. Despite substantial revenue growth, the consensus is that Tilray could report a net loss of about $0.12 per share.

As the cannabis market gains steam this year, Tilray will pick up. The fact that it has partnered with Anheuser-Busch InBev for the potential introduction of cannabis-infused beverages certainly won’t hurt.

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