Eastside Distilling Inc Stock Price, News & Analysis

Eastside Distilling (NASDAQ: EAST) reported its fourth quarter and year-end 2022 financial results, highlighting a net loss of $16.4 million, up from $2.2 million in 2021. Despite this, gross sales rose to $14.3 million, an increase from $12.9 million, aided by the sale of approximately 1,450 barrels. The company raised $5.2 million in cash during the quarter, aimed at funding working capital. Operating costs decreased to $9.1 million, down from $9.8 million. However, gross profit contracted to $2.4 million from $2.9 million, leading to a gross margin of 18% for 2022. CEO Geoffrey Gwin noted ongoing improvements and restructuring initiatives.

Eastside Distilling, Inc. (NASDAQ: EAST) will release its fourth quarter and Fiscal Year 2022 financial results after market close on Friday, March 31, 2023. A conference call will follow at 5:00pm ET to discuss these results. Interested parties can join the call by dialing (844) 889-4332 or (412) 717-9595, and the call will also be available via live webcast on the company's website. A replay will be accessible for three days after the call and will be available for 90 days via the webcast. This announcement emphasizes the company's commitment to transparency and engagement with stakeholders.

Eastside Distilling (NASDAQ: EAST) reported its third-quarter 2022 financial results, revealing gross sales of $3.1 million, a decrease from $3.3 million year-over-year. The company experienced a net loss of $(2.7) million, compared to $(1.9) million in Q3 2021. Adjusted EBITDA was $(1.1) million, worsening from $(0.6) million last year. Despite lower spirits sales, Eastside's digital can printing segment grew significantly, increasing its customer base by 106% in the last quarter. The company raised $4.5 million post-quarter-end, using $3.3 million to reduce short-term debt.

Eastside Distilling (NASDAQ: EAST) will announce its third-quarter financial results on November 14, 2022, following market close. A conference call is scheduled for 5:00 PM ET on the same day to discuss these results. The company, known for its craft spirits such as Azuñia Tequilas and Burnside Whiskeys, has been a prominent player in Portland since 2008. Investors can access the live conference call via phone or through a webcast on the company's website. A replay will be available for three days after the call.

Eastside Distilling, Inc. (NASDAQ: EAST) has announced a significant milestone with its Craft Canning + Printing subsidiary, having printed over two million cans at its Argyle operation since the start of its digital can printing in Q2 2022. The acquisition of a Hinterkopf D240 printer has enabled this growth, fulfilling demand from craft beverage customers across the Pacific Northwest. CEO Geoffrey Gwin noted positive feedback from customers, with digitally printed cans offering benefits like recyclable materials and reduced supply chain costs.

Eastside Distilling reported its Q2 2022 financial results, highlighting gross sales increased to $5.1 million from $3.6 million YoY. Key achievements include raising $1 million and improved EBITDA by $0.3 million. Spirits gross profit rose to $1.5 million, but the net loss remained at $(1.8) million. The company transitioned to its digital can printing business and delivered 7,431 cases of spirits. Despite operational improvements, sales were impacted by reduced volumes in key brands and increased operating costs.

Eastside Distilling (NASDAQ: EAST) will announce its second quarter financial results on August 11, 2022, after market close. A subsequent conference call is scheduled for 5:00 PM ET on the same day to discuss the results. The company has a reputation for crafting high-quality spirits, including Azuñia Tequilas® and Burnside Whiskeys®. Investors can participate via phone or the live webcast available on Eastside's website, with a replay accessible for three days post-call.