Tilray Brands (NASDAQ:TLRY) Releases Earnings Results, Misses Expectations By $0.10 EPS

Tilray Brands (NASDAQ:TLRY) released its quarterly earnings data on Wednesday. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.10), RTT News reports. The firm had revenue of $206.73 million for the quarter, compared to the consensus estimate of $201.35 million. Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.During the same period in the previous year, the business earned ($0.87) EPS.

Here are the key takeaways from Tilray Brands’ conference call:

• Record quarter and reaffirmed outlook: Tilray reported Q3 net revenue of $206.7M (+11% YoY), gross profit of $55M (+6% YoY) and adjusted EBITDA of $10.7M (+19% YoY), and management reaffirmed fiscal 2026 adjusted EBITDA guidance of $62M–$72M.
• Strong international cannabis growth: International cannabis net sales were $24.1M (+73% YoY) driven by medical flower volume +100% and oil +90%, with Germany up 43% despite approximately $7M of price compression impacting revenue.
• Beverage scale-up via BrewDog and Carlsberg: Tilray acquired BrewDog for ~GBP40M (adding roughly $225M–$250M of the acquired business) and entered a U.S. licensing partnership with Carlsberg (starting Jan 2027), and completed Project Four Twenty to capture $33M of annualized cost savings while working through near-term margin headwinds (aluminum, overhead absorption).
• Improved liquidity and balance sheet flexibility: The company finished the quarter with $264.8M in cash, restricted cash and marketable securities and a net cash position of ~$3.5M (a ~$40.2M year-over-year improvement), providing capacity to invest in growth despite $21.9M of cash used in operations this quarter.

Tilray Brands Stock Up 4.4%

NASDAQ TLRY traded up $0.27 during trading on Thursday, hitting $6.41. The stock had a trading volume of 2,668,636 shares, compared to its average volume of 3,649,922. Tilray Brands has a 12 month low of $3.51 and a 12 month high of $23.20. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.72 and a current ratio of 2.81. The company’s 50-day moving average price is $7.37 and its two-hundred day moving average price is $10.25. The company has a market capitalization of $746.93 million, a PE ratio of -0.29 and a beta of 1.96.

Key Stories Impacting Tilray Brands

Here are the key news stories impacting Tilray Brands this week:

• Positive Sentiment: Record revenue, improving profitability: TLRY reported a record Q3 with ~ $207M revenue (11% organic growth), higher gross profit and a narrower loss year-over-year, and the company reaffirmed FY26 guidance — a clear fundamental improvement. Tilray Brands Delivers Record Q3 Fiscal 2026 Results
• Positive Sentiment: Growth initiatives and product pipeline: expansion via the BrewDog acquisition and new consumer partnerships (Popsicle RTD alcohol tie-up, Shock Top product extensions) support longer?term revenue diversification. Is Tilray Brands, Inc. (TLRY) Among the 11 Best Marijuana Stocks to Buy Right Now?
• Positive Sentiment: Analyst upgrade: Roth MKM raised TLRY from “neutral” to “buy” with a $10 price target (implying meaningful upside), which can support investor confidence and buying interest. Benzinga
• Neutral Sentiment: Mixed earnings detail: while revenue beat estimates, EPS came in at ($0.24) vs. consensus (~$0.14 loss), showing progress versus prior year but still a GAAP loss — a cause for mixed investor reactions. Tilray Brands, Inc. (TLRY) Reports Q3 Loss, Beats Revenue Estimates
• Negative Sentiment: Market skepticism / profit-taking: despite record revenue, shares fell intraday as investors focused on the EPS miss, beverage margin pressure and uneven international execution — several pieces explain why the stock sold off after initial gains. Tilray Sinks 4%: 3 Reasons the Market Isn’t Impressed Despite Record Q3 Revenue
• Negative Sentiment: Analyst caution / downgrades: some shops trimmed estimates or lowered expectations (reported TD Cowen weakness / an analyst downgrade that pressured the stock), adding downward catalyst despite the positives. TD Cowen Has Lowered Expectations for Tilray Brands (NASDAQ:TLRY) Stock Price

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TLRY shares. Canaccord Genuity Group assumed coverage on shares of Tilray Brands in a research report on Tuesday, January 27th. They set a “hold” rating on the stock. ATB Cormark Capital Markets upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 10th. Wall Street Zen raised Tilray Brands from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. TD Cowen reduced their target price on Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Monday. Finally, Zacks Research raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $11.75.

Institutional Trading of Tilray Brands

Hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Private Wealth LLC lifted its position in shares of Tilray Brands by 100.2% in the second quarter. Corient Private Wealth LLC now owns 388,366 shares of the company’s stock worth $161,000 after purchasing an additional 194,369 shares in the last quarter. Jump Financial LLC bought a new position in Tilray Brands in the fourth quarter valued at $155,000. CreativeOne Wealth LLC increased its stake in Tilray Brands by 12.2% in the 3rd quarter. CreativeOne Wealth LLC now owns 87,134 shares of the company’s stock valued at $151,000 after buying an additional 9,452 shares during the last quarter. State of Wyoming increased its stake in Tilray Brands by 38.7% in the 2nd quarter. State of Wyoming now owns 334,576 shares of the company’s stock valued at $139,000 after buying an additional 93,411 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Tilray Brands by 26.5% during the 2nd quarter. Bank of America Corp DE now owns 311,810 shares of the company’s stock worth $129,000 after buying an additional 65,379 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

Tilray Brands Company Profile

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray’s product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.