Tilray Falls On Big Q4 Earnings, Sales Miss
Tilray, Inc. (NASDAQ:TLRY) reported fourth-quarter losses at $2.14 per share, which does not compare to the 35-cent loss estimate. The company reported sales $46.936 million, which missed the analysts estimate of $55.92 million.
Tilray reported fourth-quarter total cannabis kilogram equivalents sold 15.039K kg and adjusted EBITDA loss of $35.3 million.
"Our full year results demonstrate strong sales growth momentum, which we expect to continue in 2020," said CEO Brendan Kennedy. "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."
Tilray's stock was down 10% in Monday's after-hours session after closing at $15.25 per share. The stock has a 52-week high of $82.81 and a 52-week low of $13.20.
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