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The latest trading session saw Tilray Brands, Inc. (TLRY) ending at $1.80, denoting a -0.55% adjustment from its last day's close. This change lagged the S&P 500's daily loss of 0.29%. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq lost 0.31%.
The company's stock has dropped by 3.21% in the past month, falling short of the Consumer Staples sector's gain of 3.54% and the S&P 500's gain of 1.57%.
Investors will be eagerly watching for the performance of Tilray Brands, Inc. in its upcoming earnings disclosure. On that day, Tilray Brands, Inc. is projected to report earnings of -$0.05 per share, which would represent year-over-year growth of 50%. Our most recent consensus estimate is calling for quarterly revenue of $216.47 million, up 22.33% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.16 per share and a revenue of $901.62 million, representing changes of +51.52% and +14.28%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Tilray Brands, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 28% lower within the past month. Tilray Brands, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Consumer Products - Staples industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 91, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Zacks Investment Research
Tilray Brands, Inc. (TLRY) ended the recent trading session at $1.81, demonstrating a +0.56% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.03%. On the other hand, the Dow registered a loss of 0.04%, and the technology-centric Nasdaq increased by 0.2%.
Coming into today, shares of the company had lost 6.74% in the past month. In that same time, the Consumer Staples sector gained 4.12%, while the S&P 500 gained 1.54%.
Investors will be eagerly watching for the performance of Tilray Brands, Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.05, signifying a 50% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $216.47 million, indicating a 22.33% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.16 per share and a revenue of $901.62 million, demonstrating changes of +51.52% and +14.28%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Tilray Brands, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 28% decrease. Tilray Brands, Inc. is currently a Zacks Rank #3 (Hold).
The Consumer Products - Staples industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Zacks Investment Research
Tilray Brands, Inc. TLRY has concluded the acquisition of Atwater Brewery from Molson Coors Beverage Company TAP. This marks the acquisition of the last one as part of its deal with Molson Coors to buy four breweries. Earlier this month, Tilray acquired three craft breweries, namely Hop Valley Brewing Company, Terrapin Beer Co. and Revolver Brewing, from Molson Coors.
Atwater Brewery is a well-established craft brewery with a strong presence in Michigan. This acquisition enhances Tilray’s footprint in the Great Lakes region and fortifies its craft beer portfolio. The company is eager to integrate Atwater Brewery and leverage its resources to drive growth, broaden distribution and make its outstanding beers available to more consumers.
The earlier acquisitions of Hop Valley Brewing Company, Terrapin Beer Co. and Revolver Brewing added 30% more beer-buying accounts into Tilray's portfolio, providing access to new customers and driving revenue growth. This expansion is also expected to create cost synergies by optimizing operations and enhancing Tilray’s distribution network, allowing the company to reach a wider audience.
Unlocking Opportunities for TLRY Post Acquisition
With the acquisition of the four craft breweries from Molson Coors, TLRY expanded its presence in key beer states like Texas and Michigan, with Texas being the second-largest beer-consumption state. The acquired craft beer brands are set to be the key growth drivers for Tilray. With this acquisition, TLRY’s beer business is projected to grow to 15 million cases annually.
These acquisitions will position Tilray as the 5th largest craft brewer in the country and the top craft brewer in the Pacific Northwest and Georgia, bolstering its leadership position in the U.S. craft beer market. This move is a part of TLRY's broader strategy to diversify its portfolio and expand its presence beyond the cannabis beverages category.
With this expansion, Tilray's beverage portfolio now features a diverse range of products, including top craft beers, spirits and non-alcoholic brands. The impressive lineup includes SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, Green Flash Brewing Company, Shock Top, Breckenridge Brewery, Breckenridge Distillery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewing Company, Widmer Brothers Brewing, Square Mile Cider Company, HiBall Energy and Happy Flower CBD. This strategic diversification strengthens its already strong position in Canada’s recreational cannabis and THC beverage markets.
Tilray is transforming its craft beer portfolio by integrating these exceptional new brands with its skilled team. Management expects this acquisition to enhance Tilray’s standing in the craft beverage market and create global growth opportunities, reinforcing its commitment to shareholder value. The company remains focused on delivering high-quality products and meeting consumer demands while maximizing the potential of its expanded brand portfolio.
Conclusion
Management expects the addition of Molson Coors breweries to drive growth, enhance market position, and create global opportunities, reinforcing its commitment to shareholder value. Looking ahead, TLRY plans to leverage its expertise in product innovation and distribution to fully capitalize on these brands, boost sales, streamline operations and expand its presence across the United States.
Shares of Tilray have declined 26.1% in the year-to-date period against the industry’s rise of 3.6%. The company currently has a Zacks Rank #3 (Hold).
2 Consumer Staples Stocks to Consider
We have highlighted two better-ranked stocks from the Consumer Staple sector, namely The Chef's Warehouse CHEF and Coca-Cola KO.
The Chef's Warehouse offers specialty food products in the United States. CHEF presently sports a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 33.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for CHEF’s current financial year’s sales and EPS indicates growth of 9.7% and 12.6%, respectively, from the year-ago reported figures.
Coca-Cola, the global beverage giant, currently has a Zacks Rank #2 (Buy). It has a trailing four-quarter earnings surprise of 4.7%, on average.
The Zacks Consensus Estimate for KO’s current financial-year sales and earnings suggests growth of 0.6% and 6%, respectively, from the year-ago reported figures.
Zacks Investment Research
RH (RH) came out with quarterly earnings of $1.69 per share, beating the Zacks Consensus Estimate of $1.53 per share. This compares to earnings of $3.93 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 10.46%. A quarter ago, it was expected that this furniture and housewares company would post a loss of $0.08 per share when it actually produced a loss of $0.40, delivering a surprise of -400%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
RH, which belongs to the Zacks Consumer Products - Staples industry, posted revenues of $829.66 million for the quarter ended July 2024, surpassing the Zacks Consensus Estimate by 0.33%. This compares to year-ago revenues of $800.48 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
RH shares have lost about 15.3% since the beginning of the year versus the S&P 500's gain of 16.4%.
What's Next for RH?
While RH has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for RH: unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #5 (Strong Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $3 on $831.64 million in revenues for the coming quarter and $7.29 on $3.2 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Consumer Products - Staples is currently in the bottom 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Tilray Brands, Inc. (TLRY), another stock in the same industry, has yet to report results for the quarter ended August 2024.
This company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of +50%. The consensus EPS estimate for the quarter has been revised 24.4% lower over the last 30 days to the current level.
Tilray Brands, Inc.'s revenues are expected to be $214.56 million, up 21.3% from the year-ago quarter.
Zacks Investment Research
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