08:30 AM EDT, 04/09/2024 (MT Newswires) -- (Updates to add fiscal 2024 guidance in the fifth and sixth paragraphs, and recent stock movement in the last paragraph.)

Tilray Brands ( TLRY ) reported breakeven adjusted fiscal Q3 earnings per diluted share Tuesday, down from $0.01 a year earlier.

An analyst polled by Capital IQ expected a loss of $0.12.

Revenue for the fiscal quarter ended Feb. 29 was $188.3 million, up from $145.6 million a year earlier.

Analysts surveyed by Capital IQ expected $198.3 million.

The cannabis products and foods maker said it now expects fiscal 2024 adjusted earnings before interest, taxes, depreciation, and amortization of $60 million to $63 million, down from its prior guidance of $68 million to $78 million.

Tilray also said it no longer expects to achieve fiscal 2024 positive adjusted free cash flow because of "delayed timing for collecting cash on various asset sales."

Shares of the company were down 14.7% in recent Tuesday premarket activity.

Price: 2.21, Change: -0.38, Percent Change: -14.67