Real Good Food falls after Q4 sales miss estimates

Real Good Food

27/03/2023 15:38

** Shares of frozen food maker Real Good Food Co Inc  RGF.O 
fall as much as 6.4% to $4.71 as co misses Q4 sales estimates
    ** Stock last down 1.8% at $4.93
    ** RGF's Q4 sales rise 49% to $35.7 mln, but missed
analysts' estimate of $49.3 mln, per Refinitiv data
    ** Reports adjusted gross profit of $9.9 mln for Q4,
compared with $4.5 mln a year ago, driven by decline in raw
materials' cost
    ** Co also reiterates 2023 sales, gross margin forecast
    ** Stock has fallen 25.6% in the past 12 months

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))