|Over a month ago|
Reed's appoints Thomas Spisak as CFO » 08:1712/0212/02/19
Reed's announced the…
Reed's announced the appointment of Thomas Spisak as CFO, effective December 2, 2019. Spisak held numerous positions in multiple divisions of Diageo, most recently serving as VP of Finance and Controller of North America. Joann Tinnelly, who served as Interim CFO during the transition, will resume her role as VP and Corporate Controller of Reed's Inc. and take on an expanded role in Finance and Corporate Strategy reporting directly to the CFO.
Reed's price target lowered to $2.50 from $6 at Lake Street » 08:4111/1411/14/19
Lake Street analyst Chris…
Lake Street analyst Chris Krueger lowered his price target for Reed's to $2.50 from $6 while maintaining a Buy rating on the shares. Despite reducing his estimates post the company's Q3 results, the analyst believes Reed's is well positioned to take advantage of the "healthy consumer trend with its unique, handcrafted beverage products."
Reed's backs FY19 reveneue view $34.5M-$35.5M , consensus $35.75M » 16:0911/1311/13/19
The Company is…
The Company is reiterating its 2019 and 2020 annual revenue guidance provided in conjunction with the Company's follow-on offering and filed on form 8-K on October 22, 2019. The Company expects to generate revenue in the range of $34.5 million to $35.5 million for the full year 2019 and anticipates year-over-year core brand growth of 7.5% to 10.6%. The Company anticipates a gross margin of 30% or greater for the fourth quarter of 2019. For full year 2020, the Company expects to generate revenue in the range of $38.0 to $42.6 million and anticipates year-over-year core brand growth of 10.0% to 20.0%. The Company anticipates a gross margin of 32% or greater for the full year 2020. Consensus for FY20 revenue is $43.12M.
Reed's reports Q3 EPS (14c), consensus (11c) » 16:0711/1311/13/19
Reports Q3 revenue $8.7M,…
Reports Q3 revenue $8.7M, consensus $9.04M. "Third quarter net sales of $8.7 million and core brand gross sales growth of 5% each came in modestly above the preliminary third quarter results we issued at the end of September. However, third quarter results were significantly inhibited by supply chain deficiencies, which negatively impacted sales by approximately $1.2 million as a result of orders that were unshipped and not recovered. In addition, a lack of production capacity led to the delay of planned innovation launched for Reed's Mules and Ginger Shots, which led to additional unrealized sales. Despite these challenges, we continued to generate strong volume growth of the Virgil's brand following last year's launch of Virgil's Zero Sugar and brand refresh efforts. Production issues delayed the broad market introduction of our Reed's Zero Sugar offering, which had a negative impact on planned growth during the third quarter. However, we are pleased to report that we saw improved fulfillment rates as the quarter progressed, successfully expanded our contract manufacturing relationships and are progressing with each of our initiatives to broaden production and support for our planned product innovation efforts. We have now identified numerous opportunities in the supply chain to improve margins and other areas of savings to reduce cash burn while still investing in our core brands and innovation initiatives. These savings will be realized as new packers are qualified and in production as we enter 2020," stated John Bello, Chairman and Interim Chief Executive Officer of Reed's, Inc.
Fly Insider: Trinity, P&G among week's notable insider trades » 13:2911/0411/04/19
TRN, KMI, STON, REED, FDX, FBC, PG, QSR, ZBRA, LRCX
Welcome to "Fly Insider,"…
Reed's CFO Iris Snyder departs, Joann Tinnelly named interim CFO » 06:0311/0411/04/19
Reed's announced the…
Reed's announced the departure of CFO Iris Snyder, who is leaving the company to pursue another opportunity, and the appointment of Joann Tinnelly as Interim CFO. Iris Snyder, who has served as Reed's CFO since July 2018, is leaving the company to pursue an opportunity with a private food company. Snyder will continue to serve as Reed's CFO until November 22, and work closely with Tinnelly to ensure a seamless transition. Tinnelly brings almost 30 years of finance and accounting experience in global public and private equity company environments. She has served as Vice President and Corporate Controller of Reed's since July 2018. Prior to joining Reed's she served at Assistant Controller of Steel Excel, a subsidiary of Steel Partners Holdings.
|Over a quarter ago|
Reed's 11.667M share Spot Secondary priced at 60c » 08:3710/2310/23/19
Roth Capital acted as…
Roth Capital acted as sole book running manager for the offering.
Reed's announces common stock offering » 16:5110/2210/22/19
Reed's announced that it intends to offer shares of its common stock in an underwritten public offering. Reed's intends to use the net proceeds from the proposed offering to fund the growth of its business, new products, sales and marketing efforts, working capital, and for general corporate purposes. Roth Capital Partners is acting as the sole manager for the offering.
Reed's, Full Sail Brewing partner to launch Craft Ginger Mules » 07:3310/1510/15/19
Reed's and Full Sail…
Reed's and Full Sail Brewing announced entry into agreements for the development, marketing and distribution of ready-to-drink Reed's Craft Ginger Mules, which come in two flavors: Classic and Zero Sugar. These new products will deliver to consumers authentic Craft Ginger Mules made with real, quality ingredients in convenient, take-anywhere cans.
Fly Intel: After Hours Movers » 18:4609/3009/30/19
GERN, NLNK, ANAB, REED, FPRX
HIGHER: Geron (GERN) up…
HIGHER: Geron (GERN) up 19.6% after FDA granted imetelstat Fast Track designation in MF treatment...NewLink Genetics (NLNK) up 6.9% after buyig Lumos Pharma. LOWER: AnaptysBio (ANAB) down 17.1% after disclosing Phase 2 data for ANB019... Reed's (REED) down 9.2% after announcing restructuring and naming a new CEO... Five Prime (FPRX) down 1.2% after being downgraded to Neutral at Guggenheim. Movers as of 18:30ET.