Tilray Brands Reaffirms Outlook After Record Quarter

Tilray Brands, Inc. (NASDAQ:TLRY) shares rose in Wednesday’s premarket trading after the company reported record results for the third quarter of fiscal 2026. The stock’s positive momentum comes as the broader market experienced gains on Tuesday, with the S&P 500 futures rising 0.8%, indicating a favorable environment for growth stocks. Earnings Snapshot Tilray Brands reported third-quarter adjusted earnings of 2 cents per share, beating estimates for a loss of 14 cents per share, while revenue rose to $206.7 million, topping the $201.4 million consensus estimate. Net revenue rose 11% to a record $206.7 million in the third quarter, up from $185.8 million a year earlier. Tilray reported 73% growth in international cannabis net revenue and a 100% increase in cannabis flower sales volume year-over-year. The company also highlighted that its Canadian adult-use and medical cannabis net revenue combined increased by 8% year-over-year, reinforcing its leadership position in the Canadian market. Gross profit increased 6% to a record $55.0 million in the third quarter compared to $52.0 million a year earlier. Gross margin was 27% in the third quarter compared to 28%. In addition, the acquisition of BrewDog for approximately 40 million pounds ($53.27 million) positions Tilray as a significant player in the global craft beverage industry, enhancing its distribution capabilities across Europe, the Middle East, Australia, Asia-Pacific, and the U.S. The company reported a strong balance sheet with $265 million in cash and marketable securities, providing ample flexibility for future strategic opportunities. Adjusted EBITDA increased 19% to $10.7 million in the third quarter compared to $9.0 million a year earlier. The company reaffirmed its fiscal year 2026 adjusted EBITDA guidance of $62 million to $72 million. This represents growth of 13% to 31% compared with fiscal year 2025. Technical Analysis The stock is currently trading 0.8% above its 20-day simple moving average (SMA) but is 21.3% below its 100-day SMA, indicating a mixed technical picture. Shares have decreased 1.10% over the past 12 months and are currently positioned closer to their 52-week lows than highs. The RSI is at 41.24, which is considered neutral territory. Meanwhile, MACD is at -0.3548, below its signal line at -0.3442, indicating bearish pressure on the stock. The combination of neutral RSI and bearish MACD suggests mixed momentum. Earnings & Analyst Outlook Tilray Brands is slated to provide its next financial update on July 27, 2026 (estimated). EPS Estimate: 25 cents (Up from 20 cents) Revenue Estimate: $240.63 million (Up from $224.53 million) Analyst Consensus & Recent Actions: The stock carries a Hold Rating. Recent analyst moves include: TD Cowen: Buy (Lowers Target to $7.00) (Mar. 30) Roth Capital: Neutral (Lowers Target to $10.00) (Jan. 20) Benzinga Edge Rankings Below is the Benzinga Edge scorecard for Tilray Brands, highlighting its strengths and weaknesses compared to the broader market: Momentum: 6 — Stock is showing moderate performance indicators. The Verdict: Tilray’s Benzinga Edge signal reveals a growth-heavy profile, suggesting potential for upward momentum as the company continues to expand its market presence. Top ETF Exposure Amplify Alternative Harvest ETF (NYSE:MJ): 15.49% Weight Significance: Because TLRY carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock. TLRY Stock Price Activity: Tilray Brands shares were up 6.06% at $6.86 during premarket trading on Wednesday, according to Benzinga Pro data. Photo by T. Schneider via Shutterstock