Tilray Inc (NASDAQ:TLRY) is expected to post a year-over-year improvement in both sales and profits when it reports its first quarter fiscal 2024 financial results on Wednesday, October 4, 2023.
The cannabis and consumer packaged goods company is tipped to report revenue of $175.1 million, a 14.3% increase over revenue of $153.2 million in the year-ago quarter, according to Zacks Consensus Estimate.
Its adjusted loss per share is expected to narrow from $0.08 to an adjusted loss per share of $0.05.
For fiscal 2024, which will end on May 31, 2024, Tilray said in late July that it expects to continue to generate positive adjusted free cash flow, which it has achieved for the past four years.
It also expects to achieve adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in the range of $68 million to $78 million, representing growth of 11% to 27% over fiscal 2023.
Tilray shares traded hands at US$2.36 on Friday morning. The stock is down 14.2% in the year-to-date.
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