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Tilray (TLRY) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Jul 29, 2026

After Close (Confirmed)

Period Ending

2026 (Q4)

Consensus EPS Forecast

>-0.01

Last Year’s EPS

-13

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 6 Analysts Ratings

Earnings Call Summary

Q3 2026

Earnings Call Date:Apr 01, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call highlighted clear operational progress: record quarterly revenue, strong international cannabis momentum, meaningful distribution growth, completed cost-savings programs and strategic beverage partnerships/acquisition that materially expand the company’s scale. Several significant challenges remain — beverage revenue and margin pressure, input cost volatility (aluminum, fuel), working capital-related cash use, regulatory uncertainty in the U.S., and integration work for BrewDog — but management presented concrete actions (hedging, Project 420, SKU rationalization, partnerships) and a strengthened liquidity position. On balance, the positive operational and strategic developments outweigh the near-term headwinds.

Company Guidance

Tilray reaffirmed fiscal 2026 adjusted EBITDA guidance of $62 million to $72 million, supported by a record Q3 where net revenue was $206.7 million (up 11% YoY) and adjusted EBITDA rose 19% to $10.7 million; Q3 gross profit was $55 million (up 6% YoY) with a 27% gross margin, adjusted net income was $2.4 million ($0.02/share) and adjusted cash operating income was $4.1 million. The company closed the quarter with $264.8 million of cash, restricted cash and marketable securities and approximately $3.5 million net cash (a $40.2 million YoY improvement), generated $3.4 million of operating cash excluding working capital (but used $21.9 million including working capital), and narrowed net loss to $25.2 million (a $768.3 million improvement YoY). Management highlighted operational actions that underpin the guidance, including Project 420 delivering $33 million of annualized cost savings (with $6.2 million realized this quarter), beverage gross margins near 32% on $42.6 million of beverage revenue, segment mix of ~31% cannabis / 40% distribution / 21% beverage / 8% wellness, and commodity hedging (aluminum 65–75% hedged month-to-month, year out) to mitigate cost headwinds.

Record Quarterly Revenue and Organic Growth

Net revenue reached $206.7 million, a third-quarter record and an 11% increase year-over-year (CEO referred to 11% organic growth).

Strong Gross Profit and Adjusted EBITDA Improvement

Gross profit rose to $55 million, up 6% year-over-year (gross margin 27% vs 28% prior year). Adjusted EBITDA increased 19% to $10.7 million. Management reaffirmed fiscal 2026 adjusted EBITDA guidance of $62 million to $72 million.

International Cannabis Surge

International cannabis net sales were $24.1 million, up 73% year-over-year and 20% sequentially, driven by exceptional volume growth (medical cannabis flower volume +100% YoY; medical cannabis oil volume +90% YoY). Germany grew 43% YoY for the quarter.

Distribution (Tilray Pharma) Outperformance and Strategic Partnerships

Distribution net revenue was $83 million, up 35% YoY, marking the highest-ever third-quarter sales for Tilray Pharma. CC Pharma recognized as a top 100 innovator in Europe; new partnerships expanded German pharmacy reach from 13,000 to 16,000 pharmacies and added UK distribution via Smartway.

BrewDog Acquisition and Carlsberg Licensing Deal Expand Beverage Platform

Acquired BrewDog assets for ~EUR 40 million, adding an estimated $225–$250 million of revenue to create ~ $500 million global craft beverage platform (pro forma) and supporting a pro forma company run-rate cited at ~$1.2 billion. Announced U.S. licensing partnership with Carlsberg starting 2027 to produce, market and distribute Carlsberg brands in the U.S.

Balance Sheet and Liquidity Strength

Ended quarter with $264.8 million in cash, restricted cash and marketable securities and an approximate net cash position of $3.5 million (improvement of ~$40.2 million year-over-year from net debt).

Project 420 and Cost Savings Delivered

Completed Project 420 and the target synergy program of $33 million in annualized cost savings; delivered over $6.2 million in annualized savings during the quarter to reset beverage cost structure and improve gross margins in the segment.

Wellness Category Growth

Wellness net revenue increased 16% YoY to $16.4 million, with gross margin improvement to 33% (from 32%) driven by value-added innovation and price actions.

Tilray (TLRY) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TLRY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 29, 2026	2026 (Q4)	>-0.01 / -	-13	―	―	―
Apr 01, 2026	2026 (Q3)	-0.14 / -0.22	-8.7	97.43% (+8.48)	―
Jan 08, 2026	2026 (Q2)	-0.21 / -0.41	-1	59.00% (+0.59)	―
Oct 09, 2025	2026 (Q1)	-0.27 / 0.00	-0.4	―	―
Jul 28, 2025	2025 (Q4)	-0.23 / -13.00	-0.4	-3150.00% (-12.60)	―
Apr 08, 2025	2025 (Q3)	-0.38 / -8.70	-1.2	-625.00% (-7.50)	―
Jan 10, 2025	2025 (Q2)	-0.34 / -1.00	-0.7	-42.86% (-0.30)	―
Oct 10, 2024	2025 (Q1)	-0.35 / -0.40	-1	60.00% (+0.60)	―
Jul 29, 2024	2024 (Q4)	-0.23 / -0.40	-1.5	73.33% (+1.10)	―
Apr 09, 2024	2024 (Q3)	-0.50 / -1.20	-19	93.68% (+17.80)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TLRY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Apr 01, 2026	$6.47	$6.14	-5.10%
Jan 08, 2026	$9.13	$9.18	+0.55%
Oct 09, 2025	$17.20	$21.00	+22.09%
Jul 28, 2025	$7.00	$5.77	-17.54%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.