Black Rifle Coffee falls after wider-than-expected loss

BRC

12/05/2022 12:21

** Black Rifle Coffee Company's shares  BRCC.N  down ~9.1%
at $9.50 premarket 
    ** Co reports Q1 net loss of $1.36/share vs estimates of a
loss of 3 cents/share, per Refinitiv data  urn:newsml:reuters.com:*:nFWN2X413P
    ** BRCC saw gross margins decrease 499 basis points to 35%
from 40% in Q1, driven by increases in the price of coffee and
higher product costs 
    ** Co also recorded a 24% rise in marketing expenses during
the quarter 
    ** Net revenue in Q1 jumped 35% to $66 million
    ** Four of nine brokerages rate the stock "buy" or higher,
five "hold"; their median PT is $20 - Refinitiv 
    ** As of last close, shares were up ~3% YTD

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))