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 announced the launch of Reed’s® Hard Ginger Ale, a new addition to its portfolio of all-natural ginger beverages. This product, which will be available in stores during Q3 and Q4 of 2022, features 5% ABV with only 100 calories per can. Offered in four flavors—Mango, Pineapple Coconut, Cherry Lime, and Watermelon Strawberry—it is keto-friendly and made with real ginger. The company anticipates growth in the ready-to-drink alcohol category, responding to consumer interest in using ginger ale as a cocktail mixer.
Reed's, Inc. (NASDAQ: REED) has partnered with Cracker Barrel to distribute its premium crafted beverages nationwide. Cracker Barrel will now carry Virgil’s Bavarian Nutmeg Root Beer and Flying Cauldron Butterscotch Beer in all 630 retail locations. This expansion follows the initial limited-edition launch of Virgil's Root Beer, now available full-time. Both beverages feature unique swing-lid bottles for easy consumption. Reed’s aims to enhance its presence in the market, leveraging Cracker Barrel's unique retail environment to reach more consumers during the festive season.
Reed's, Inc. (NASDAQ: REED), a leader in handcrafted, all-natural ginger beverages, will hold a conference call on August 11, 2022, at 5:00 p.m. ET to discuss its Q2 2022 financial results. An accompanying press release will precede the call. Interested participants can dial in or access the live webcast available on their investor relations website. Reed's operates with well-known brands including Reed’s®, Virgil’s®, and Flying Cauldron® and is recognized for its high-quality beverages sold in over 45,000 stores across the U.S.
Reed’s, Inc. (NASDAQ: REED) has appointed Thomas Kosler to its board of directors as of July 1, 2022, replacing Rhonda Kallman. Kosler brings over 40 years of finance experience, including leadership roles at Ernst & Young LLP and his own firm, Kosler & Co. He will also chair the Audit Committee. Reed’s Chairman John Bello praised Kosler’s expertise, particularly in audit and compliance. Kosler expressed enthusiasm for Reed's growth initiatives, specifically mentioning new products like Reed’s Ginger Ale and Hard Ginger Ale, indicating a focus on capitalizing on high-quality, all-natural beverages.
Reed's, Inc. (NASDAQ: REED) will participate in the Lytham Partners Summer 2022 Investor Conference on June 22, 2022. The virtual presentation is set for June 21, 2022, at 9:00 am ET and will be accessible online for 90 days. CEO Norman Snyder and CFO Tom Spisak will hold one-on-one meetings with registered attendees. Reed's is recognized as the leader in all-natural ginger beverages, with products sold in over 45,000 stores nationwide. The company has been expanding its product offerings, including zero-sugar options.
Reed’s, Inc. (NASDAQ: REED) reported Q1 2022 financials, showing a slight net revenue increase to $12.2 million from $12.1 million year-over-year. However, gross profit declined to $2.9 million with a gross margin of 24.1%, down from 31.7% due to rising input costs. Operating expenses fell to $7.1 million, leading to an operating loss of $(4.2) million. The company anticipates 20-25% sales growth for 2022, despite current challenges, and expects improved gross margins as cost-saving measures take effect.
Reed’s, Inc. (NASDAQ: REED) announced a successful private placement of senior secured convertible notes totaling $11.25 million. The notes feature a 10% coupon, maturing on May 9, 2025, and are convertible into stock at approximately $0.24 per share. The company plans to use the proceeds primarily to repay debt and support working capital. An additional $12 million can be drawn in the future. CEO Norman E. Snyder expressed optimism about achieving positive cash flow by late 2023 amidst ongoing business momentum.
Reed's, Inc. (NASDAQ: REED) will host a conference call on May 16, 2022, at 5:00 p.m. Eastern time to discuss its Q1 financial results for 2022. The call will include a presentation by management and a question-and-answer session afterward. Interested participants can dial in using the toll-free number (844) 850-0544 or join via the webcast available on the company's investor relations website. Reed's specializes in handcrafted, all-natural ginger beverages and has expanded its product line to include zero-sugar options.
Reed’s, Inc. (NASDAQ: REED) reported a 19% increase in FY 2021 net revenue, reaching $49.6 million, with Q4 2021 revenue up 20% to $12.8 million. However, gross profit fell to $13.6 million, with margin decreasing to 27.4%. The company recorded an operating loss of $(15.9) million. Looking ahead, Reed’s expects 2022 net sales between $59-$62 million and a gross margin of 30%. The company is initiating cost-saving strategies to mitigate increased supply chain costs. A conference call will be held on March 31, 2022, to discuss these results.
Reed’s, Inc. (NASDAQ: REED) announced a conference call scheduled for March 31, 2022, at 5:00 p.m. Eastern time to discuss its financial results for the year ending December 31, 2021. Key details include the toll-free dial-in number (844) 850-0544 and the conference ID 10164980. The call will be accessible live and for replay on the company’s investor relations website. Reed’s is recognized as a leader in natural ginger beverages, with products available in over 45,000 stores nationwide.