BRC INC Stock Price, News & Analysis

Black Rifle Coffee Company (BRCC) has appointed Martin Manning, a U.S. Navy Veteran, as its new Chief Human Resources Officer (CHRO). Manning's role focuses on talent acquisition in line with the company's mission to hire 10,000 Veterans. This leadership change is part of a broader strategy to scale revenue and develop an omnichannel lifestyle brand. Manning has a strong background in driving growth and building leadership teams, having previously served at Ascend Learning.

BRC Inc. (NYSE: BRCC) reported a 27% increase in Q2 2022 net revenue to $66.4 million, raising its full-year revenue outlook to $320 million+. Adjusted EBITDA for Q2 was $(10.4) million, a notable increase in net loss to $45.1 million due to non-cash fair value adjustments. While direct-to-consumer revenue fell by 7%, wholesale revenue surged by 145%, driven by ready-to-drink (RTD) products. The company also anticipates 2023 revenue of at least $500 million, with low-to-mid single-digit EBITDA margins, despite challenges from inflationary pressures and increased operational costs.

Black Rifle Coffee Company (BRCC) announced its upcoming release of second quarter 2022 financial results scheduled for August 11, 2022, prior to the U.S. stock market opening. Management will host a conference call and live webcast at 8:00 a.m. ET for a detailed discussion on these results. The replay of the call will be available until August 18, 2022. As a veteran-founded company, BRCC aims to support veterans and first responders while delivering a premium coffee experience.

BRC Inc. (NYSE: BRCC) has appointed Roland Smith as Executive Chairman, effective immediately. He succeeds founder Evan Hafer, who remains CEO. This leadership change aims to leverage Smith's extensive experience in consumer-packaged goods to enhance growth and shareholder value. Smith, a U.S. Army veteran, emphasized collaboration with Hafer and co-CEO Tom Davin to capitalize on increasing customer demand and expand sales channels. The company is committed to its mission of supporting veterans and first responders while pursuing omnichannel growth.

Black Rifle Coffee Company (BRCC) has opened a new coffee shop in Spanish Fork, Utah, marking its third store in the state. This location features a coffee and espresso bar, over 15 blends, a grab-and-go menu, and drive-thru service, operating daily from 5am to 8pm MT. CEO Evan Hafer attributes the success of their physical locations to the brand's alignment with customer values. BRCC serves nearly 300,000 coffee club subscribers and boasts a community of over 2 million consumers, emphasizing its commitment to premium coffee and supporting veterans and first responders.

BRC Inc. (NYSE: BRCC), a premium coffee company dedicated to supporting veterans and first responders, will present at the 2022 William Blair Growth Stock Conference on June 8, 2022, at 4:20 PM Eastern Time. The presentation will be accessible via a webcast on the company's investor relations website, with an archived replay available afterward. Founded in 2014 by Green Beret Evan Hafer, BRCC is committed to providing quality coffee and promoting the American way of life.

Black Rifle Coffee Company (BRCC) has appointed Chris Clark as its new Chief Technology Officer. Clark, who has over 25 years of technology experience, previously served as CIO at Levi Strauss & Co. His appointment is part of BRCC's strategy to enhance its omnichannel approach and fuel growth following its recent public listing. The company aims to leverage Clark's expertise to improve operational efficiency and integrate its digital foundation effectively.

BRC Inc. (NYSE: BRCC) reported a 35% net revenue increase in Q1 2022, reaching $65.8 million, driven by significant growth in wholesale and Outpost sales. The company reported a net loss of $(256.8) million, which includes $240.7 million in non-cash expenses. While gross profit rose 18% to $23.2 million, gross margin fell to 35%.

BRCC continues to expand its leadership team, hiring veterans from notable companies to support growth initiatives.