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 news centers on a completed corporate transition that added Beeline Financial Holdings, an AI-enhanced digital mortgage and title technology platform, alongside updates on the company’s legacy craft spirits activities. Recurring announcements include financial results, stockholder meeting matters, governance changes, capital actions, and balance-sheet transactions.
The company’s news also covers completed asset sales and debt exchanges involving Craft Canning + Printing and Bridgetown Spirits, as well as registered direct offerings and other securities-related actions tied to its public-company capital structure.
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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