Reed’s, Inc. Announces Second Quarter 2019 Financial Results
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Reed's (REED) Misses Q2 EPS by 3c, Revenues Miss; FY19 Revenue Guidance Below Consensus
August 13, 2019 4:12 PM EDTReed's (NASDAQ: REED) reported Q2 EPS of ($0.13), $0.03 worse than the analyst estimate of ($0.10). Revenue for the quarter came in at $9.5 million versus the consensus estimate of $10.45 million.
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 Virgils brand and 7% volume growth of the Reeds brand, the first time the Reeds brand has grown in almost 2 years;Gross profit decreased 25% to $2.3 million from $3.0 million... More