How Jim Cramer Felt About Tilray's Earnings Call
Real Money's Stock of the Day Tilray posted a wider-than-expected fourth quarter loss but said sales nearly tripled in a growing global market for medical marijuana.
Tilray said earnings for the three months ending in December were pegged at a net loss of 33 cents per share, compared to a 4 cents per share profit from the same period in 2017, a figure it put down to "operating expenses related to growth initiatives, expansion of international teams and costs related to financings and M&A activities." Group sales, however, rose more than 200% to $15.5 million, while total kilogram equivalents increased nearly three-fold to 2,053 and the average net selling price rose 5.5% to $7.52 per gram, reported TheStreet's Martin Baccardax.
"We are still in the early stages of the global transformation of $150 billion worldwide industry," Tilray CEO Brendan Kennedy told investors on a conference call late Monday.
"We believe that over the long-term companies such as Tilray with the portfolio of trusted brands powered by multinational supply chain, will win the market by earning the confidence of patients, consumers and governments around the world." Jim Cramer said that he wasn't a fan of the way that Kennedy "slammed" Canada during the earnings call.
Tilray Is Not My Favorite Canadian Cannabis Stock Will I Have Enough Money to Retire?
Want to learn about retirement planning from some of the nation's top experts?
Join TheStreet's Robert "Mr. Retirement" Powell live in New York on April 6 for our Retirement Strategies Symposium.
For a limited time, tickets are available for $99 for this full-day event.
Check out the agenda, learn about the speakers and sign up here.