logo-loader
viewTilray Inc

Tilray misses 4Q earnings estimates but shares rally in pre-market trading

Shares of Tilray rose in extended trading after the company reported lower-than-expected earnings that missed analyst estimates

cannabis plant
Tilray reported fourth-quarter earnings that missed estimates, citing higher operating costs and expenses

Tilray Inc (NASDAQ:TLRY) shares ticked upwards Tuesday in pre-market trading, despite the cannabis company reporting fourth-quarter earnings that missed estimates, citing higher operating costs and expenses.  

Shares of Tilray, which closed 0.4% lower at US$72.24 on Monday in New York jumped in pre-market, up over 3% at US$74.54. 

The Nanaimo-based cannabis company reported revenue of US$15.5 million in the fourth quarter, against analyst expectations of US$17 million. 

Tilray's net loss during the period was $31 million, or $0.33 per share, against a net loss in the year-ago period of $3 million, or $0.04 a share. 

READ: Buds & Duds: Tilray rises ahead of earnings release, Harvest One and Flowr ink sales deals

According to the company, the higher loss was due to an increase in operating expenses related to continued growth, expansion of international teams, and costs related to financing and mergers-and-acquisitions activity. 

“Looking ahead, we remain committed to pursuing global growth opportunities and will be disciplined in deploying capital, particularly in the United States and Europe, where we believe we have multiple paths for value creation," said President and CEO Brendan Kennedy in a statement. 

Contact Katie Lewis at [email protected]

--UPDATES FOR SHARE PRICE MOVE--

Quick facts: Tilray Inc

Price: 10.08 USD

NASDAQ:TLRY
Market: NASDAQ
Market Cap: $1.26 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Arizona Silver Exploration will be going back to Philadelphia after drilling...

Arizona Silver Exploration (TSXV: AZS) (OTCQB: AZASF) VP of Exploration Greg Hahn joined Steve Darling from Proactive with some results from the company’s drill program at their Philadelphia project. Hahn discusses the next step the company is planning. Hahn also told Proactive they are...

10 hours, 4 minutes ago

2 min read