Tilray Brands (TLRY) Q1 2027 Earnings
How Did TLRY Stock React to Q1 2027 Earnings?
Did TLRY Beat Earnings? Q1 2027 Results
No. Tilray Brands reported Q1 2027 earnings of $-0.02 a share on Oct 8, 2026, missing the $0.04 consensus estimate by 150.0%. Revenue was $257.1M against a $267.8M estimate.
Tilray Brands, Inc. delivered a disappointing start to fiscal 2027, missing on both the top and bottom lines as the company reported an adjusted loss of $0.02 per share against a consensus estimate of $0.04, a shortfall of 150.00%, while revenue of $257.15 million trailed the $267.76 million analyst target by 3.97% and fell 10.6% year over year. The headline numbers masked a more complex picture underneath: beverage segment revenue surged 82% to $101.50 million, powered by the BrewDog acquisition, with management noting BrewDog reached profitability in the quarter, yet cannabis revenue declined to $56.11 million from $64.51 million and free cash flow deteriorated to negative $27.45 million, weighed down by a $27.78 million inventory build. Adjusted EBITDA slipped to $9.21 million from $10.18 million a year ago, though Tilray reaffirmed its fiscal 2027 adjusted EBITDA guidance of $68 million to $75 million, citing typical second-half seasonality and the upcoming Carlsberg brand partnership launching January 1, 2027, as catalysts for improvement ahead. Notably, at least one analyst downgraded the stock to a strong sell heading into the print, a caution that appears well-founded given the results.
- BrewDog acquisition driving 82% beverage revenue growth
- International cannabis revenue growth of 21% YoY
- EMEA revenue increase of 71% YoY driven by medical cannabis, beverage, and pharmaceutical distribution
- Gross margin expansion across beverage (41% vs 38%) and cannabis (39% vs 36%) segments
- Distribution revenue growth of 14% YoY
“Tilray's record first-quarter revenue and gross profit demonstrate the power of the diversified platform we have built and the momentum we are creating across cannabis, beverage, hospitality, wellness and pharmaceutical distribution. We are no longer dependent on a single market or regulatory catalyst. We have multiple engines of growth, a scaled international footprint and the ability to convert scale into stronger margins, greater efficiency and sustainable, profitable growth.”
Tilray Brands CEO, on the earnings call
What Is Tilray Brands's Outlook?
Tilray reaffirms fiscal year 2027 (ending May 31, 2027) adjusted EBITDA guidance of $68 million to $75 million, representing double-digit growth compared to fiscal year 2026. Management noted that due to business seasonality, financial results are typically more weighted toward the second half of the fiscal year, with results strengthening significantly in the fourth quarter. The company also highlighted the upcoming Carlsberg partnership to produce and sell Carlsberg brands in the U.S. starting January 1, 2027.
TLRY YoY Financials
| Metric | Q1 2027 | Q1 2026 | Year over year |
|---|---|---|---|
| Revenue | $257.1M | $287.8M | −10.6% |
| Gross Profit | $77.5M | $78.9M | −1.8% |
TLRY Revenue by Segment
When Does Tilray Brands Report Next?
Figures from SEC filings and company reports. Not investment advice.