Reed’s, Inc. Announces Third Quarter 2020 Financial Results
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Reed's (REED) Misses Q3 EPS by 2c, Revenues Beat
November 9, 2020 4:53 PM ESTReed's (NASDAQ: REED) reported Q3 EPS of ($0.04), $0.02 worse than the analyst estimate of ($0.02). Revenue for the quarter came in at $10.6 million versus the consensus estimate of $10.36 million.
Highlights for the Third Quarter of 2020
Net sales increased 21% to $10.6 million in the third quarter compared to $8.7 million in the prior year. The increase compared to the prior year reflects strong volume growth of the Reeds® brands, including impact from recent launches of new product innovation.Core brand gross sales increased 18% versus prior year period primarily driven by strong 32% volume growth of the... More