Brief: Reed’s Inc Provides Prelim Q1 2020 Results, Reiterates Fiscal 2020 Annual Guidance

Reed'S

16/04/2020 21:30

April 16 (Reuters) - Reed's Inc  REED.O :
    * REED’S, INC. PROVIDES PRELIMINARY FIRST QUARTER 2020
RESULTS AND
REITERATES FISCAL 2020 ANNUAL GUIDANCE
    * SEES Q1 2020 SALES ABOUT $8.8 MILLION TO $9.0 MILLION
    * SEES Q1 2020 SALES UP 4.2 TO 6.5 PERCENT
    * FISCAL 2020 CORE BRAND NET SALES ARE EXPECTED TO INCREASED
APPROXIMATELY 10.0% TO $37.2 MILLION, COMPARED TO $33.8 MILLION
IN PRIOR YEAR
    * GROSS MARGIN FOR FULL YEAR 2020 IS EXPECTED TO BE
APPROXIMATELY
32.0%, UP FROM 23.3% IN PRIOR YEAR
    * Q1 GROSS MARGIN IS ESTIMATED TO BE APPROXIMATELY 28.5% TO
29.5%
COMPARED TO 29.6% IN PRIOR YEAR
    * Q1 MODIFIED EBITDA IS ESTIMATED TO NARROW BY ABOUT 22.6%
TO
31.2% TO RANGE OF NEGATIVE $1.8 MILLION TO NEGATIVE $1.6 MILLION
FROM NEGATIVE $2.3 MILLION
    * Q1 REVENUE VIEW $8.5 MILLION -- REFINITIV IBES DATA
    * FY2020 REVENUE VIEW $36.9 MILLION -- REFINITIV IBES DATA

Source text for Eikon:  ID:nGNX7qHFV9 
Further company coverage:  REED.O 

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