Reed's, Inc. Provides Earnings Guidance for the Fiscal Year Ending December 31, 2022
August 11, 2022 at 04:05 pm EDT
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Reed's, Inc. provided earnings guidance for the fiscal year ending December 31, 2022. Reed's continues to expect 2022 net sales to range between approximately $59 million - $62 million, reflecting growth of approximately 20%-25% from 2021. The Company also continues to estimate gross margin in 2022 to be approximately 30% compared to 27.4% in 2021.
Reedâs, Inc. owns a portfolio of handcrafted, natural beverages, which sells in over 45,000 outlets nationwide. These outlets include the natural and specialty food channel, grocery stores, mass merchants, drug stores, convenience stores, club stores, liquor stores, and on-premises locations including bars and restaurants. The Company provides craft beverages under the Reedâs, Virgilâs, and Flying Cauldron brand names. Reedâs portfolio includes ginger beers, ginger ales, ready-to-drink ginger mules and hard ginger ales. The Virgil's brand offers an array of flavored sodas, including Root Beer, Vanilla Cream, Black Cherry, Orange Cream, and more. These flavors are also available in six zero-sugar varieties. Flying Cauldron is a non-alcoholic butterscotch beer. Reedâs Craft Ginger Beer line includes varieties with a mix of bottles and cans, including Reedâs Original Ginger Beer, Reedâs Premium Ginger Beer, Reedâs Extra Ginger Beer, Reedâs Strongest Ginger Beer, and others.
REED'S, INC. 
