Reed’s, Inc. Announces Third Quarter 2018 Financial Results
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Reed's (REED) Reports Q3 Loss of $0.10, Revenues Beat
November 13, 2018 4:14 PM ESTReed's (NYSE: REED) reported Q3 EPS of ($0.10), versus $0.00 reported last year. Revenue for the quarter came in at $10.8 million versus the consensus estimate of $10.25 million.
Net Sales declined 1% to $10.8 million from $10.9 million in the prior year, reflecting private label sales shift to fourth quarter and comparison to strong shipment load in ahead of last years price increase. Core brand gross sales increased 3% driven by Virgils and favorable pricing across both core brands;Gross profit increased 30% to $2.7 million from $2.1 million in the prior year period. Gross margin increased 590 basis points to... More