Reed’s, Inc. Announces Third Quarter 2019 Financial Results
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Reed's (REED) Misses Q3 EPS by 3c
November 13, 2019 4:09 PM ESTReed's (NASDAQ: REED) reported Q3 EPS of ($0.14), $0.03 worse than the analyst estimate of ($0.11). Revenue for the quarter came in at $8.7 million versus the consensus estimate of $9.04 million.
Highlights for the Third Quarter of 2019
Consistent with the preliminary net sales results released on September 30, 2019, third quarter net sales were $8.7 million, a 19% decrease compared with the prior year due to the sale of the private label business at the end of 2018 and the discontinuation of non-core products, which collectively contributed $2.3 million of net sales in the prior year period;Core brand... More