Increasing Tilray stocks because profits no longer count when the opportunity of marijuana is so important

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The stock of
Tilray

rebounded after normal trading hours, after the Canadian cannabis producer met expectations for December sales, but posted a surprisingly large loss. The stock, which stands at $ 74, is up 2.5%, reversing the slight decline it suffered during Monday trading hours. So there is a very expensive pot stock.

The BC-based company (symbol: TLRY) posted sales of $ 15.5 million for the quarter, about the same as predicted by analysts surveyed by FactSet. The losses for the quarter, however, are $ 31 million or 33 cents per share. Analysts were expecting half that level. Excluding the non-equity expense, Tilray's loss for the quarter is $ 27 million, while its cash loss is $ 18 million. Owen Bennett, an analyst at Jefferies, believes that the return on the stock is lower than the reality.

In 2018, Tilray's sales reached $ 43 million, with a loss of $ 68 million, or 82 cents per share.

In this announcement, General Manager Brendan Kennedy said his team had "made significant progress" during the year. A conference call will begin at 5 pm Today time is today.

Revenues in December are an improvement over September, when the company was struggling to get a product and had sales of only $ 10 million. In February 2019, the company acquired an Ontario producer for $ 26 million in cash and shares, with an additional stock of $ 26 million payable if the facility achieves goals. of production.

The publication of the results lists a dozen highlights of Tilray's year, including partnerships with the pharmaceutical giant.
Novartis

and brewer
AB InBev
,
and the acquisition of $ 317 million from a hemp food producer called Manitoba Harvest. Tilray's latest achievement was the announcement this month of the first harvest in a cannabis operation for medical purposes in Portugal. From this facility, she hopes to supply the markets of the European Union.

Write to Bill Alpert at [email protected]