Tilray reports US$33.6M profit in Q4 as it merged with cannabis rival Aphria

Tilray profits after merger

Tilray Inc. reported a US$33.6 million profit in the same quarter the cannabis company merged with rival Aphria Inc.

The fiscal fourth-quarter profit was a shift from the same time last year, when the company, which reports earnings in U.S. dollars, recorded a net loss of US$84.3 million.

Tilray says its basic and diluted earnings per share for the period ended May 31 amounted to 18 cents, up from a loss of 39 cents per share in the year prior.

Analysts had expected Tilray to report a loss of 10 cents per share, according to financial data firm Refinitiv.

Tilray says its net revenue for the quarter was US$142.2 million, up from US$113.5 million in the fourth quarter of 2020.

Tilray's merger with Aphria closed in early May, generating US$35 million in synergies and bringing it closer to its US$80 million target.

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