By Sabela Ojea
Tilray Brands logged a wider loss in its fiscal second quarter and said revenue rose after sales at its beverage business offset declines at its core cannabis unit
The cannabis-lifestyle and consumer-packaged-goods company on Friday posted a net loss for the three months ended Nov. 30 of $85.3 million, or 10 cents a share, compared with a loss of $46.2 million, or 7 cents a share, for the same period a year earlier. Analysts polled by FactSet had forecast a per-share loss of 3 cents.
Stripping out one-time items, the company's earnings per share came in at breakeven.
Revenue rose 8.9% to $211 million, beating the $216.3 million expected by analysts.
The company said sales from its beverage business rose to $63.1 million from $46.5 million a year earlier, while sales from its cannabis business declined to $65.7 million from $67.1 million last year.
Chief Executive Irwin Simon said he's "enthusiastic about what lies ahead, including the potential future legalization of cannabis in the U.S."
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
January 10, 2025 07:42 ET (12:42 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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