Eastside Reports First Quarter 2020 Financial Results

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Go back to Eastside Reports First Quarter 2020 Financial Results

Eastside Distilling, Inc. (EAST) Misses Q1 EPS by 8c, Revenues Beat

May 14, 2020 4:27 PM EDT

Eastside Distilling, Inc. (NASDAQ: EAST) reported Q1 EPS of ($0.36), $0.08 worse than the analyst estimate of ($0.28). Revenue for the quarter came in at $3.75 million versus the consensus estimate of $3.59 million.

COVID-19 Impact to Q1 2020As previously reported on March 30, 2020, the first quarter of 2020 started strong. However, starting in mid-February through the end of March, there was a slowdown in sell-through as a result of COVID-19. Additionally, the off-premise retailers delayed the commencement of the planned Burnside Whiskeys and Hue-Hue Coffee Rum national launch as a result of COVID-19.

The Company enacted a... More