Welcome to our dedicated page for Eastside Distilling news (Ticker: $EAST), a resource for investors and traders seeking the latest updates and insights on Eastside Distilling stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Eastside Distilling's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Eastside Distilling's position in the market.
Eastside Distilling (NASDAQ: EAST) reported its Q1 2024 financials. Gross sales fell to $2.5M from $2.9M YoY, mainly due to lower mobile canning and spirits sales. However, digital printing sales surged, achieving a record 4.8 million cans, a 320% increase YoY. Gross profit decreased to $0.2M from $0.6M, with a gross margin drop from 22% to 8%. The Company decreased operating costs by $0.6M due to headcount reduction and lower professional fees. Net loss improved to $1.3M from $1.6M. Adjusted EBITDA also saw an improvement, with Craft and Spirits segments showing better performance. The company continues its restructuring, focusing on profitable spirits brands and regions.
Eastside Distilling, Inc. (NASDAQ: EAST) will report its first quarter financial results on May 13, 2024. The company specializes in craft inspired brands, premium spirits, digital can printing, co-packing, and mobile filling. A conference call will be held on the same day at 5:00pm ET to discuss the results.