Tilray posts Q2 revenue miss, CEO talks beer market growth
Tilray Brands (TLRY) reported fiscal second quarter earnings, with revenue of $211 million falling short of the estimated $217 million. However, adjusted EPS came in at $0.00, beating expectations of a $0.03 loss. Tilray Brands chairman and CEO Irwin Simon joins Market Domination to discuss these results. Simon highlights the company's expansion into the beer market since late 2020, acquiring 12 brands. He also outlines plans to trim the company's beverage portfolio and introduce 100-145 new products. "This is the right thing for the business," Simon tells Yahoo Finance. He acknowledges the recent pressures and challenges reflected in both earnings and stock performance. "Part of the problem is I'm still looked upon as a Canadian cannabis company," Simon explains. Despite challenges, Simon is optimistic about Tilray and emphasizes the company's successful pivot from cannabis to beer markets. "Everybody does something wrong, but we're doing a lot of great things," he says. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. This post was written by Angel Smith
