But stores in British Columbia were closing, and trying to convert to a buy-online, pick up-in-store model. In the last reported quarter, the company missed earnings expectations by 82.3%. Wall Street had been anticipating a loss of 40 cents a share.An error has occurred, please try again later.He presently expects 2020 revenues increasing to $253 million from $167 million in 2019, with sales of $83 million in the fourth quarter of 2020. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.That’s not likely, according to Chen. In the last reported quarter, the company missed earnings expectations by 82.3%. "Taken together, we believe producer shipments will be under pressure during calendar 2Q20 ... ," Stifel's Carter wrote, "and we believe category headwinds are likely to cascade suggesting a vicious cycle for the category's overall growth (reduced investment, reduced inventory, and reduced ability to fulfill demand). Tilray stock was sinking more than 13% Tuesday morning as investors digested the marijuana grower’s disappointing fourth-quarter earnings report. Realtime quote and/or trade prices are not sourced from all markets.Total cannabis kilogram equivalents sold jumped 92.4% to 5,794 kilograms, led by recreational sales. Tilray Earnings Report Estimates: Wall Street expects Tilray to report a 44-cent loss per share, according to Zacks. Tilray Tumbles following Its Q3 Earnings Report Tilray reported its third-quarter earnings results on November 12. "Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. “We remain encouraged on the cannabis 2.0 launch of value-added products in Canada and additional retail stores should provide a performance catalyst and path toward positive adjusted EBITDA,” he wrote.“The earnings miss notwithstanding, management seems encouraged about the 2020 outlook,” he wrote, noting the company expects recreational sales to grow by two times, Canadian medical sales to nearly double, and international sales to grow well over two times.Grey’s math puts Tilray’s revenues around $80 million in the fourth quarter of 2020, based on the company's rough forecasts.Copyright ©2020 Dow Jones & Company, Inc. All Rights ReservedTilray stock was sinking more than 13% Tuesday morning as investors digested the marijuana grower’s disappointing fourth-quarter earnings report.Chen added that Tilray (ticker: TLRY) believes credit and its capacity for at-the-market stock sales can fund operations until the business is cash-flow positive, which it expects to be in the fourth quarter of 2020.He called the results—which reflected declining bulk sales and higher operating expenses—“disappointing.” He also cited “an anemic retail build-out” in Canada’s Ontario and Quebec provinces.
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