The defending champions were beaten 1-21 to 0-21 in the quarter-final of the competition.
The victors were without the injured Seamus Callanan for the match in Holycross.
In yesterday evening's quarter-finals Holycross-Ballycahill beat Clonakenny 1-23 to 1-15 and Loughmore-Castleiney got the better of Upperchurch-Drombane on a 2-23 to 1-15 scoreline.
Moycarkey-Borris had already booked their place in the last four.
Meanwhile, in Round 2 of the South Tipperary Senior Hurling Championship it finished Ballingarry 2-17 Carrick Swans 2-12 – the match was played in Monroe yesterday evening.
This evening in the Tipperary Co-Op West Tipperary Senior Hurling Championship Clonoulty/Rossmore and Knockavilla-Donaskeigh Kickhams clash in Annacarty.
The action there gets underway at 7.30pm.
