Reed’s Reports First Quarter 2024 Results
Reeds, Inc. (REED)
Last reeds, inc. earnings: 3/12 04:14 pm
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US:NASDAQ Investor Relations:
reedsinc.com/investors
Company Research
Source: GlobeNewswire
Reiterates Full Year 2024 Financial Outlook Management to Host Conference Call Today at 5:00 p.m. ET NORWALK, Conn., May 14, 2024 (GLOBE NEWSWIRE) -- Reed’s, Inc. (OTCQX: REED) (“Reed’s” or the “Company”), owner of the nation’s leading portfolio of handcrafted, natural ginger beverages, is reporting financial results for the three months ended March 31, 2024. Q1 2024 Financial Highlights (vs. Q1 2023): Net sales were $9.6 million compared to $11.2 million.Gross profit increased 26% to $3.4 million, with gross margin up 1,140 bps to 35.6%.Delivery and handling costs were reduced by 29% to $3.01 per case.Selling, general and administrative expenses were reduced by 19% to $2.6 million.Operating loss improved to $0.6 million compared to $2.6 million.Modified EBITDA loss improved to $0.4 million compared to $2.3 million. Management Commentary “We continued to drive cost-cutting and optimization initiatives in the first quarter, reflected by our material improvements in gross margin
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REED
News
- Reed's, Inc. (NYSE: REED) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Reed's, Inc. (NYSE: REED) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Reed’s Unveils New Virgil’s 12oz Can Format in Sprouts Farmers MarketGlobeNewswire
- Reed's, Inc. (NYSE: REED) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Reed's, Inc. (NYSE: REED) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
REED
Earnings
- 5/14/24 - Miss
REED
Sec Filings
- 6/10/24 - Form 4
- 5/20/24 - Form 10-Q
- 5/16/24 - Form NT
- REED's page on the SEC website