By Adriano Marchese
Tilray Brands shares fell on the back of a downgraded full-year guidance after third fiscal-quarter revenue missed expectations.
Shares trading in Toronto fell 6.2% to 76 Canadian cents (53 cents).
The cannabis and alcohol beverage company said it expects net revenue for the year to be between $850 million and $900 million. Previously the company expected revenue of $900 million to $950 million. Analysts on FactSet expect $897.8 million.
Tilray cites adjustments for constant currency and the impacts of the strategic initiatives and stock-keeping units rationalization.
Despite the downgrade to revenue for the year, Tilray said it doesn't expect the tariffs to affect its sales.
Revenue fell in the third quarter ended Feb. 28 to $185.8 million from $188.3 million, missing analyst forecasts of reaching $212.2 million, according to FactSet.
Net loss widened to $793.5 million from a loss of $105 million, which on a per-share basis was a loss of 87 cents compared with a loss of 12 cents.
Analysts expected an improvement to a four-cent a share loss.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
April 08, 2025 10:28 ET (14:28 GMT)
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