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REED

Reed's

$3.02

0.045 (1.52%)

16:13
08/13/19
08/13
16:13
08/13/19
16:13

Reed's reports Q2 EPS (13c), consensus (10c)

Reports Q2 revenue $9.48M, consensus $10.45M. We are pleased to have generated strong core sales growth with Virgil's showing solid double digit growth and the Reed's brand returning to sales growth for the first time in several quarters. The sales growth would have been even stronger if we were able to fill all the sales orders we had in hand. Unfortunately, we experienced one time supply chain transition challenges that led to an inability to fill all orders and delayed some of our planned innovation launches and sales ramp-up," stated Val Stalowir CEO of Reed's, Inc. "Our enhanced sales and marketing efforts, new product news and rebranding efforts are delivering the increased demand we anticipated. The short-term supply chain challenge we faced in the second quarter was driven by the delayed upgrade and operation of the former LA facility (now California Custom Beverage) and the production downtime due to issues transitioning to the new pressure sensitive labels for our glass bottles. Unfortunately, there were not sufficient redundancies built into our co-packing supply chain infrastructure to quickly react to and compensate for the production shortfall. As a company, we are re-doubling our efforts to enhance our supply chain infrastructure and build in redundancies through additional co-packing relationships. Our current co-packer partners are focused on ramping up production on our core products to help close remaining inventory gaps and this will likely delay the full ramp-up of some of our new product introductions such as the new Reed's Zeros and cans. Additionally, we incurred obsolescence and inventory adjustment costs relating to our rebranding efforts and formulation enhancements that suppressed our gross margin during the second quarter."

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REED Reed's
$3.02

0.045 (1.52%)

04/26/19
LSCM
04/26/19
INITIATION
Target $6
LSCM
Buy
Reed's initiated with a Buy at Lake Street
Lake Street analyst Chris Krueger started Reed's with a Buy rating and $6 price target. The analyst believes the company is well positioned to take advantage of the "healthy consumer trend with its unique, handcrafted beverage products." Reed's will return to growth mode in 2019, with increasing margins, Krueger tells investors in a research note. He believes the company can grow sales annually at 20% for the next several years and could eventually become a takeout candidate for a larger beverage company. The stock should move higher as Reed's is awarded a growth multiple and revenues accelerate, contends Krueger.
04/26/19
04/26/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Vail Resorts (MTN) initiated with a Buy at SunTrust. 2. Tocagen (TOCA) initiated with an Overweight at Cantor Fitzgerald. 3. Dow Inc. (DOW) initiated with a Hold at Argus. 4. Gilead (GILD) initiated with an Outperform at Bernstein. 5. Reed's (REED) initiated with a Buy at Lake Street. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/10/19
RFLF
05/10/19
INITIATION
Target $5
RFLF
Buy
Reed's initiated with a Buy at RF Lafferty
RF Lafferty analyst Roger Duan started Reed's with a Buy rating and $5 price target, citing the company's accelerating growth under new management, its leading position in craft beverages and its launch of several new products, including some with CBD.
05/10/19
05/10/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Wayfair (W) initiated with a Sell at Berenberg. 2. United Technologies (UTX) initiated with a Neutral at Seaport Global. 3. Alcon (ALC) initiated with an Outperform at Baird. 4. Pinterest (PINS) initiated with a Buy at Nomura Instinet and a Hold at Argus. 5. Reed's (REED) initiated with a Buy at RF Lafferty. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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