New Age Beverages (NBEV) Reports Q4 Revenues Above Estimates

New Age Beverages (NASDAQ: NBEV) reported Q4 revenue for the quarter came in at $14 million versus the consensus estimate of $13.54 million.

Brent Willis, Chief Executive Officer of New Age mentioned, ''2018 was an extremely challenging as we spent almost the entire year recovering from inventory shortfalls due to working capital constraints. Those impacts completely distorted the underlying strength of the firm. Exiting the year however those issues are firmly behind us and we are a completely different company. We now have infrastructure, capabilities, and the human and financial resources across 60 countries to leverage our brands, intellectual property, and innovation to capture the full potential of what we believe are unparalleled opportunities worldwide.''

Greg Gould, Chief Financial Officer commented, ''Small cap companies rarely have as strong a balance sheet and clean capital structure as we do today. New Age has a >$42 million cash balance, >$280 million in assets with di minimis debt, and net revenues approaching $300 million. This scale and financial flexibility position the company to take advantage of the opportunities in front of us unlike ever before in our history. New Age expects to generate more than $320 million in net revenue and greater than $15 million in EBITDA in 2019, as we expand to national distribution on our brands in the US, and take advantage of a number of global growth opportunities that we can now execute through the newly acquired global footprint.''

For earnings history and earnings-related data on New Age Beverages (NBEV) click here.

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