{"id":13408,"date":"2024-04-09T16:57:25","date_gmt":"2024-04-09T11:27:25","guid":{"rendered":"https:\/\/bigbreakingwire.in\/tilray-brands-q324-earnings-navigating-mixed-results-and-strategic-focus\/"},"modified":"2024-04-09T16:57:25","modified_gmt":"2024-04-09T11:27:25","slug":"tilray-brands-q324-earnings-navigating-mixed-results-and-strategic-focus","status":"publish","type":"post","link":"https:\/\/bigbreakingwire.in\/tilray-brands-q324-earnings-navigating-mixed-results-and-strategic-focus\/","title":{"rendered":"Tilray Brands&#8217; Q3&#8217;24 Earnings: Navigating Mixed Results and Strategic Focus"},"content":{"rendered":"<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div>\n<p>Tilray&#8217;s Q3&#8217;24 shows mixed results: solid revenue growth YoY; but lower EBITDA and increased loss per share. Strategic focus on debt reduction, core segment strength, and integration efforts amidst evolving industry conditions.<\/p>\n\n\n\n<p><strong>Net Revenue:<\/strong> Despite missing estimates, Tilray Brands reported solid net revenue of $188.3 million for Q3&#8217;24, reflecting a growth of approximately 30% year-over-year. (Est. $198.3M)<br><br><strong>Adjusted EBITDA:<\/strong> The adjusted EBITDA stood at $10.2 million, below the estimated $13.6 million, signaling some operational challenges.<br><br><strong>Loss per Share:<\/strong> The company reported a loss per share of 12 cents, higher than the estimated loss of 5.5 cents.<br><br><strong>Revised FY&#8217;24 Guidance:<\/strong> Tilray Brands revised its full-year adjusted EBITDA guidance to $60 million to $63 million, down from the previous range of $68 million to $78 million. Additionally, it no longer expects to achieve positive adjusted free cash flow for FY&#8217;24.<br><br><strong>Financial and Operational Highlights:<\/strong><br>\u00a0\u00a0 &#8211; Global cannabis net revenue increased by 33%, with international cannabis revenue growing by 44%.<br>\u00a0\u00a0 &#8211; Beverage-alcohol net revenue experienced significant growth, soaring by 165% to $54.7 million.<br>\u00a0\u00a0 &#8211; The company successfully reduced outstanding convertible debt by $50.7 million during Q3.<br>\u00a0\u00a0 &#8211; It maintained a strong liquidity position, with approximately $226 million in liquidity.<br><br><strong>Additional Comments:<\/strong><br>\u00a0\u00a0 &#8211; Management emphasized notable achievements such as revenue growth across core business segments and increased adjusted gross profit.<br>\u00a0\u00a0 &#8211; Integration of recently acquired craft beverage brands progressed well, along with realizing operating synergies from the HEXO acquisition.<br>\u00a0\u00a0 &#8211; Tilray Brands completed cost reduction plans for both Canadian and international cannabis operations, contributing to strengthening the balance sheet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tilray&#8217;s Q3&#8217;24 shows mixed results: solid revenue growth YoY; but lower EBITDA and increased loss per share. Strategic focus on debt reduction, core segment strength,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[618,616,619],"tags":[3229,1037,1278,1507,3231,3232,1277,1882,3228,1240,3230,3227],"class_list":["post-13408","post","type-post","status-publish","format-standard","hentry","category-brokerage-reports","category-stock-in-news","category-stocks-in-news","tag-debt-reduction","tag-earnings","tag-ebitda","tag-guidance","tag-industry-conditions","tag-integration-efforts","tag-loss-per-share","tag-market-dynamics","tag-q324","tag-revenue","tag-strategic-focus","tag-tilray-brands","entry","rows"],"jetpack_publicize_connections":[],"modified_by":null,"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pfgCxS-3ug","jetpack_sharing_enabled":true,"jetpack_likes_enabled":false,"_links":{"self":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/posts\/13408","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/comments?post=13408"}],"version-history":[{"count":0,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/posts\/13408\/revisions"}],"wp:attachment":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/media?parent=13408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/categories?post=13408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/tags?post=13408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}