Reed’s, Inc. Announces First Quarter 2020 Financial Results
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Reed's (REED) Tops Q1 EPS by 1c, Revenues Beat; Reaffirms FY20 Growth & Gross Margin Outlook
May 11, 2020 4:51 PM EDTReed's (NASDAQ: REED) reported Q1 EPS of ($0.05), $0.01 better than the analyst estimate of ($0.06). Revenue for the quarter came in at $9.5 million versus the consensus estimate of $8.66 million.
Highlights for the First Quarter of 2020
Net sales increased 13% to $9.5 million in the first quarter compared to $8.4 million in the prior year. The increase compared to the prior year reflects increased sales of both the Reeds® and Virgils® brands, including the launch of significant new Reeds® brand innovation;Core brand gross sales increased 12% versus prior year period primarily driven by... More