New Age Beverages (NBEV) Misses Q3 EPS by 8c, Revenues Miss

New Age Beverages (NASDAQ: NBEV) reported Q3 EPS of ($0.14), $0.08 worse than the analyst estimate of ($0.06). Revenue for the quarter came in at $62.7 million versus the consensus estimate of $70.69 million.

Brent Willis, Chief Executive Officer of NewAge, commented, “We continue to make substantial progress on integrating the five companies that are part of this game-changing merger to create a leading social selling company. We had major achievements in the past few quarters in disposing of the BWR brands which had a negative impact of more than $15 million in EBITDA(1) in fiscal 2019, capturing cost synergies of approximately $10 million in NewAge , and in achieving growth in the U.S., Latin America and Western European markets. We expect the merger between NewAge and ARIIX will close this month. As we come together, we expect to generate accelerated growth and profit contribution, and are extremely well positioned to do so.”

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

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