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.
Eastside Distilling Inc (NASDAQ: EAST) delivers award-winning craft spirits and innovative packaging solutions from its Portland roots. This news hub provides investors and industry followers with essential updates on operational developments, financial milestones, and market innovations.
Access timely reports on earnings announcements, product launches, and strategic initiatives including mergers like the Beeline Financial Holdings transaction. Track advancements in digital can printing technology and seasonal spirit releases that maintain the company's artisanal heritage.
Our curated news collection features:
- Financial performance updates
- Distillation process innovations
- Packaging technology breakthroughs
- Strategic partnerships and M&A activity
- Regulatory compliance developments
Bookmark this page for direct access to official press releases and third-party analysis of EAST's unique position at the intersection of traditional craftsmanship and modern beverage technology.
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.
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