Welcome to our dedicated page for Splash Beverage Group news (Ticker: SBEV), a resource for investors and traders seeking the latest updates and insights on Splash Beverage Group stock.
Splash Beverage Group, Inc. (NYSE American: SBEV) is a Nevada-based company focused on managing and growing brands in the consumer beverage industry, and its news flow reflects both brand activity and corporate developments. Company press releases describe Splash Beverage Group as owning a portfolio of alcoholic and non-alcoholic beverage brands, including Copa di Vino wine by the glass, SALT flavored tequilas, Pulpoloco sangria, and performance hydration and recovery drinks such as TapouT. News items frequently highlight distribution wins, retail authorizations, financing transactions, governance changes, and strategic updates.
Recent news has included announcements about expanded distribution for Pulpoloco Sangria through retailers such as Total Wine & More across multiple U.S. states, as well as authorization for Chocolate SALT Tequila from the Pennsylvania Liquor Control Board, enabling placement in fine wine and spirits stores in Pennsylvania. These updates illustrate how Splash Beverage Group uses news releases to communicate progress in building out its distribution network and increasing retail availability for its brands.
On the corporate side, the company issues news about capital raising efforts, such as private placements of convertible notes and other financing arrangements intended to provide operating capital and support potential acquisitions. Press releases have also covered conference calls to discuss quarterly results and the state of the business, appointments of key executives and directors, and statements addressing going concern language in its annual report. These items give investors and other stakeholders insight into the company’s financial strategy, governance, and management priorities.
Visitors to the SBEV news page on Stock Titan can review this stream of announcements to understand how Splash Beverage Group is pursuing its stated strategy of rapidly developing early-stage brands, acquiring additional beverage brands, and expanding distribution. Regularly checking the news feed can help track developments in brand authorizations, financing, joint ventures, and other material events disclosed by the company.
Splash Beverage Group (SBEV) has appointed F. William (Bill) Caple to its Board of Directors. With over 30 years of investment banking and management consulting experience, Mr. Caple will bolster the company's growth initiatives. He is the founder of Caple Advisory, focusing on international growth strategies, and has a track record in M&A and capital raises. Notably, he was instrumental in the acquisition of TaylorMade Golf by Centroid Partners. CEO Robert Nistico expressed confidence in Mr. Caple's ability to enhance the company's strategic direction. Splash's portfolio includes innovative brands such as Copa di Vino and SALT flavored tequilas, and aims for rapid expansion in the beverage industry.
Splash Beverage Group (SBEV), a growing beverage company, reported a 47% increase in total gross revenue for Q1, reaching $6.1 million, compared to $4.1 million in the prior year. The core beverage brands experienced a 28% increase, with Q-plash up 60%. The company has expanded its retail presence by adding over 24,000 store doors in various national and regional chains, enhancing distribution capabilities through key partnerships. The management emphasizes the significance of an established distribution network for product authorization in retail. They expect gradual revenue growth as distribution expands within retail chains and through the on-premise segment. CEO Robert Nistico expressed confidence in the company’s positioning and the potential for continued growth in a large market.
Splash Beverage Group (SBEV) announced a conference call for April 11, 2023, at 10:00 am ET to discuss its Q4 and full-year 2022 financial results. The call can be accessed via toll-free numbers or a live webcast. Additionally, a replay will be available until April 25, 2023. The company boasts a diverse portfolio of beverage brands, including Copa di Vino and SALT flavored tequilas, and aims to expand its global distribution. Investors are urged to connect early for the call to accommodate potential software requirements for the webcast.
Splash Beverage Group (SBEV) reported strong financial results for Q4 and the full year ended December 31, 2022. Q4 revenues rose 56% to $4.79 million, while full-year revenues increased 61% to $19.0 million, driven by growth in its ecommerce platform Qplash and the Copa Di Vino brand.
Gross margins improved significantly, reaching $3.3 million in Q4 and $5.9 million for the full year. The net loss narrowed to $4.8 million in Q4 and $21.7 million for the year, compared to $6.2 million and $29.0 million, respectively, in 2021. Cash reserves increased slightly to $4.4 million. The CEO emphasized ongoing investments in marketing and distribution as key to future growth.
Splash Beverage Group, Inc. (SBEV) recently announced that its Pulpoloco Sangria has been awarded the prestigious 7-Eleven, Inc. Brands with Heart™ designation, enabling it to be showcased in select 7-Eleven and Speedway stores across the U.S. This recognition highlights the brand's growing visibility in the competitive beverage market. Pulpoloco Sangria, crafted in Madrid, is presented in an innovative eco-friendly packaging called CartoCan, emphasizing sustainability. CEO Robert Nistico expressed enthusiasm about this opportunity, indicating confidence in the product's quality and the company's distribution capabilities as pivotal factors for success in major retail outlets.
On March 2, 2023, Splash Beverage Group (SBEV) announced a new distribution agreement with Carolina Premium Beverage to deliver its brands, Copa di Vino, Pulpoloco, and TapouT, across North Carolina. Carolina Premium Beverage has over 80 years of experience and delivers more than 6.8 million cases annually, placing it among the top beer wholesalers in the U.S. CEO Robert Nistico expressed enthusiasm for the partnership, signaling an expansion into key markets like Charlotte. This agreement, along with a recent Publix authorization for TapouT, enhances Splash’s distribution strategy in the Southeastern U.S., aiming to boost retail presence and revenue.
Splash Beverage Group (SBEV) announced new distributor agreements to enhance the presence of SALT Tequila across most counties in New York, excluding New York City. The distributors, Try-It Distributing, A. L. George Distributing, and Saratoga Eagle Sales & Service, are part of the Anheuser Busch network, providing a strong distribution network. Chairman Robert Nistico emphasized the growth potential of tequila in the spirits market, which could favorably impact SALT Tequila's expansion. The company aims to capitalize on the growing demand in the spirits sector.
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