Tilray’s Alcoholic Beverages Revenue to Surge Amid Diversification Efforts

Canadian cannabis operator Tilray Brands (NASDAQ: TLRY) is projected to see significant revenue growth in its alcoholic beverages segment, according to Visible Alpha consensus. With marijuana still being illegal at the federal level in the U.S., the company has been focused on diversifying its product portfolio. In 2021, Tilray ventured into the wellness and craft beer segments, launching new CBD wellness and craft beverage brands. In September 2023, Tilray also acquired eight beer and beverage brands from Anheuser-Busch InBev (NYSE: BUD), including Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, and HiBall Energy.

In 2023, while revenues across Tilray’s cannabis, wellness, and distribution declined, the company’s alcoholic beverages segment saw revenues jump 33% year over year, reaching $95 million. The segment accounted for 15% of Tilray’s total revenue in 2023. Analysts expect this share to increase to 23% in 2024 and further rise to 26% by 2027. Between 2024 and 2027, alcoholic beverage revenues are projected to grow at a CAGR of 14%.

Sector: Healthcare
Industry: Cannabis
VA Ticker(s): TLRY_CA