Reed’s, Inc. Announces Second Quarter 2019 Financial Results
Reeds, Inc. (REED)
Last reeds, inc. earnings: 3/12 04:14 pm
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Source: GlobeNewswire
NORWALK, Conn., Aug. 13, 2019 (GLOBE NEWSWIRE) -- Reed’s Inc. (Nasdaq:REED), owner of the nation’s leading portfolio of handcrafted, all-natural beverages, today announced financial results for the fiscal second quarter ended June 30, 2019. Highlights for the Second Quarter of 2019 Net Sales were $9.5 million in the second quarter, a 1% increase compared with the prior year, while core brand gross sales increased 13%, driven by 22% volume growth of the Virgil’s brand and 7% volume growth of the Reed’s brand, the first time the Reed’s brand has grown in almost 2 years; Gross profit decreased 25% to $2.3 million from $3.0 million in the prior year period, due primarily to one-time charges related to write-offs of packaging, obsolete and expired ingredients and additional inventory adjustments. Gross margin decreased 840 basis points to 24% from 32% in the prior year period and would have been 30% without the one-time write-offs; Operating loss was $4.1 million compared wit
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REED
News
- Reed's, Inc. (NYSE: REED) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Reed's, Inc. (NYSE: REED) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Reeds (REED) Upgraded to Buy: Here's What You Should Know [Yahoo! Finance]Yahoo! Finance
- Reed's, Inc. (NYSE: REED) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Reed's Reports Fourth Quarter and Full Year 2023 Results and Issues 2024 Financial Outlook [Yahoo! Finance]Yahoo! Finance
REED
Earnings
- 11/9/23 - Beat
REED
Sec Filings
- 4/4/24 - Form 4/A
- 4/3/24 - Form 8-K/A
- 4/2/24 - Form 8-K
- REED's page on the SEC website