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.
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Reed’s, Inc. has announced a distribution partnership with Roundy’s Supermarket to launch its Hard Ginger Ale in over 100 stores across Wisconsin. This marks a significant expansion for Reed’s, a leader in handcrafted ginger beverages, owned by Kroger Co.. The Hard Ginger Ale, containing 5% ABV and 100 calories per can, is available in four flavors: Mango, Pineapple-Coconut, Cherry-Lime, and Watermelon-Strawberry. Norman E. Snyder, CEO of Reed's, expressed excitement about the partnership, which could potentially pave the way for broader distribution within Kroger's network.
Reed’s, Inc. (OTCQX: REED) announced the appointment of Joann Tinnelly as Interim Chief Financial Officer effective March 31, 2023, following the resignation of Tom Spisak, which was not due to any disagreements. Tinnelly, a Certified Public Accountant with over 30 years of experience and previously Interim CFO in 2019, is expected to lead the finance team during this transition. Norman E. Snyder, CEO, expressed confidence in Tinnelly's leadership. Reed’s is renowned for its handcrafted, natural ginger beverages and has expanded into the zero-sugar segment with proprietary sweetener systems.
Reed's, Inc. (OTCQX: REED) reported a record net sales growth of 18% to $15.0 million in Q4 2022. Gross profit rose 32% to $3.4 million with an improved gross margin of 23%. Operating expenses decreased by 10%, reflecting effective cost management. For FY 2022, net sales increased 7% to $53.0 million, though gross profit fell to $12.1 million. Management highlighted a successful expansion in distribution and anticipates double-digit revenue growth along with profitability in modified EBITDA by mid-2023. Despite past macroeconomic challenges, the firm is set for a positive trajectory with enhanced operational efficiencies.
Reed's, Inc. (OTCQX: REED), a leader in handcrafted, natural ginger beverages, will announce its financial results for the three and twelve months ending December 31, 2022, in a conference call on March 29, 2023, at 5:00 p.m. Eastern. The call will include a Q&A session with management after the results are shared. Interested parties can participate by dialing (844) 850-0544 or (412) 542-4115 for international calls. A webcast option will be available for those who prefer online access, and the event will be recorded for later playback. Reed's aims to share its growth strategy and product innovations during the call.