Tilray Brands Inc.’s stock
TLRY,
rose 0.4% in premarket trading on Tuesday after the cannabis and beverage company’s adjusted loss beat estimates on record revenue. Tilray said its second-quarter loss narrowed to $46 million, or 7 cents a share, from a loss of $62 million, or 11 cents a share, in the year-ago quarter. Its adjusted loss was $2.7 million, or zero cents a share, which beat the FactSet consensus estimate for a loss of 5 cents a share. Revenue increased by 34% to $193.8 million, just ahead of the analyst estimate of $193.7 million. The company said it expects total cost savings related to its Hexo and Truss integration of $30 million to $35 million in the current fiscal year.
