Reed’s, Inc. Announces First Quarter 2021 Financial Results
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Reed's (REED) Misses Q1 EPS by 2c, Revenues Beat
May 17, 2021 4:14 PM EDTReed's (NASDAQ: REED) reported Q1 EPS of ($0.05), $0.02 worse than the analyst estimate of ($0.03). Revenue for the quarter came in at $12.1 million versus the consensus estimate of $10.9 million.
Highlights for the First Quarter of 2021
Net sales increased 28% to $12.1 million in the first quarter compared to $9.5 million in the prior year. The increase compared to the prior year reflects continued volume growth of both the Reeds® and Virgils® brands, including the impact from the recent launch of Reeds Real Ginger Ale products;Core brand gross sales increased 27% versus prior year... More