Welcome to our dedicated page for Reeds news (Ticker: REED), a resource for investors and traders seeking the latest updates and insights on Reeds stock.
Reed’s, Inc. reports company developments for a branded beverage business built around handcrafted, natural ginger beverages and other craft beverage brands. Its updates commonly cover financial results, conference calls, distribution and channel initiatives, product and brand activity under the Reed’s, Virgil’s and Flying Cauldron names, and operating priorities such as sales execution, supply chain efficiency and margin improvement.
Reed’s news also includes governance and capital-structure actions, including executive appointments, board changes, public equity offerings and its completed listing on NYSE American. The company’s beverages are sold through national retail and food-service channels, including grocery, specialty, mass, drug, convenience, club and on-premise locations.
Reed's Inc. has launched its flagship Extra Ginger Beer in 12 oz. recyclable aluminum cans, expanding its presence in over 1,600 Walmart Mixer Sets. This move is aimed at meeting growing consumer demand for canned beverages and enhancing retail opportunities. The product, crafted with real organic ginger, has been primarily available in glass bottles. This innovation aligns with Reed's strategy to increase its reach in the mixer category and on-premise venues across the U.S. Reed's has been a leader in the ginger beverage market for over 30 years.
Reed's Inc. (Nasdaq: REED) reported a 28% increase in net sales for Q1 2021, reaching $12.1 million, compared to $9.5 million in the prior year. Core brand gross sales were up 27%, driven by a 37% growth in the Reed’s® brand and 29% in the Virgil’s® brand. Gross profit rose 34% to $3.9 million, with a gross margin of 32%. However, the company reported an operating loss of $4.3 million and a net loss of $4.5 million. Reed's reaffirms its 2021 revenue growth outlook of 14% to 16% amid ongoing supply chain challenges.
Reed’s Inc. (Nasdaq: REED) has launched its first-ever resealable 20 oz. bottles for its beverages, marking a significant innovation in over 30 years of operation. The new bottles are available for Reed’s REAL Ginger Ale, Virgil’s Handcrafted Root Beer, and Virgil’s Dr. Better, designed for on-the-go consumption. This packaging breakthrough facilitates entry into c-store and supermarket channels, catering to consumer demand for healthier options. The resealable bottles are also entirely recyclable, emphasizing sustainability. Key retail partners include Kroger and select CVS locations.
Reed's Inc. (Nasdaq: REED) is set to release its financial results for Q1 2021, ending March 31, on May 17, 2021. The announcement follows a leading position in the U.S. beverage market, particularly in the segment of handcrafted, all-natural products. The company's portfolio includes the top-selling Ginger Beer and craft sodas, with products available in over 40,000 retail locations nationwide. Following the earnings release, Reed's management will conduct a conference call at 4:30 PM ET to discuss results with investors.
On May 5, 2021, Reed’s Inc. (Nasdaq: REED) announced a registered direct offering, planning to sell up to 6,680,000 shares of common stock at $1.18 per share, aiming for gross proceeds of $7.9 million. After fees and expenses, net proceeds are expected to be around $7.4 million. The closing is anticipated on May 7, 2021, contingent on standard conditions. Funds will be allocated to working capital and general corporate purposes, supporting distribution initiatives aligned with the company's strategic goals.
Reed's Inc. expands its presence in the beverage market, rolling out six new multipacks of Reed's and Virgil's beverages to over 1,000 CVS Pharmacy locations. This move responds to strong consumer demand for all-natural alternatives, building on the success of Reed's Extra and Zero Sugar Extra Ginger Beer. The new product lineup includes REALLY REAL Ginger Ale and Certified Ketogenic sodas from Virgil's in Zero Sugar flavors. The company continues to grow its distribution across various channels, significantly increasing brand visibility and availability.
Reed’s® and Virgil’s™ have expanded their distribution to over 200 military commissaries across the U.S., Puerto Rico, Europe, and Asia. This includes 179 stores in the U.S. and 57 international bases, increasing access to all-natural beverage options for military families.
The offerings include Reed’s® Original and Zero Sugar Ginger Beer, Reed’s® REALLY REAL Ginger Ale™, and Virgil’s™ Zero Sugar Root Beer, among others. CEO Norman E. Snyder highlighted the growing demand for these healthier alternatives within military communities.
Reed’s Inc. (Nasdaq:REED) reported strong financial results for Q4 and FY 2020, with net sales increasing 49% to $10.7 million in Q4 and 23% to $41.6 million for the year. The gross profit surged 490% in Q4 to $3.5 million, with gross margins improving to 33%. The operating loss for Q4 narrowed to $2.7 million, while annual net loss decreased to $10.2 million or $0.17 per share. Management expects 14% to 16% revenue growth for FY 2021 amid ongoing COVID-19 uncertainties, supported by expanded distribution and operational efficiency improvements.
Reed’s Inc. announces the limited-time return of Virgil's Dr. Better soda, responding to high consumer demand. The original formula features natural ingredients like tart cherry and spicy cinnamon, now with added caffeine. CEO Norman E. Snyder emphasized the company's commitment to consumer feedback and has improved supply chain processes to meet this demand. The product will be available online in 12-can packs at $30, with an Amazon listing priced at $32.99. Reed's portfolio includes various craft sodas and ginger beers, distributed across 40,000 retail locations nationwide.
Reed's Inc. (Nasdaq: REED) will release its financial results for Q4 and the full year ending December 31, 2020, after market hours on March 30, 2021. A conference call for analysts and investors will take place at 4:30 p.m. ET the same day. Interested parties can access the call via Reed's investor website or by dialing in at (877) 425-9470 for U.S. callers. A replay will be available on the company's website for 90 days. Reed's is known for its handcrafted, all-natural beverages, including the leading Ginger Beer brand in the U.S.