Tilray Brands will consolidate its Canadian cannabis operations to improve profitability. It will close its Foss facility in Fenwick, Ontario, shifting cultivation to its Masson, Quebec, facility and pre-roll production to its Cayuga, Ontario, site. The transition is scheduled for completion by January 31, 2027.
The company expects the changes to generate approximately US$10 million in annualized cost savings by the end of fiscal 2028.
Tilray raised the lower end of its fiscal 2027 adjusted EBITDA guidance to $70 million, from a previous floor of $68 million. The updated range is $70 million to $75 million. The consolidation is intended to reduce costs, expand margins and strengthen cash flow.