Reed’s, Inc. Announces Second Quarter 2020 Financial Results
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Reed's (REED) Tops Q2 EPS by 1c, Revenues Beat
August 10, 2020 4:41 PM EDTReed's (NASDAQ: REED) reported Q2 EPS of ($0.03), $0.01 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $10.9 million versus the consensus estimate of $9.8 million.
Highlights for the Second Quarter of 2020
Net sales increased 14% to $10.9 million in the second quarter compared to $9.5 million in the prior year. The increase compared to the prior year reflects increased sales of both the Reeds® and Virgils® brands, including impact from recent launches of new product innovation.Core brand gross sales increased 14% versus prior year period primarily driven by strong 19%... More