Tilray to report earnings
The upcoming announcement is set to be Tilray’s third quarterly earnings report. Analysts expect the company’s sales to grow ~25% sequentially to $12.6 million from $10 million. Likewise, cannabis companies (HMMJ) Canopy Growth (WEED), HEXO (HEXO), and Aurora Cannabis (ACB) are expected to report record sales growth following the legalization of recreational cannabis in Canada, with record growth in their medical cannabis businesses.
Aphria reported its earnings last month, stating that recreational cannabis sales boosted its revenue in the second quarter. Its net sales rose 154% year-over-year to 21.7 million Canadian dollars from 8.5 million Canadian dollars. To learn more, read Key Takeaways from Aphria’s Second-Quarter Earnings. Next, we’ll discuss analysts’ estimates for Tilray’s margins.