Reed's, Inc. Provides Preliminary Unaudited Earnings Guidance for the Fourth Quarter and Full Year Ended December 31, 2021 and Full Year 2022
February 14, 2022 at 04:30 pm EST
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Reed's, Inc. provided preliminary unaudited earnings guidance for the fourth quarter and full year ended December 31, 2021 and full year 2022. For the quarter ended December 31, 2021, the company expects Net revenue to increase approximately 19% to $12.7 million. Operating loss is expected to range between $3.9 million and $4.2 million compared to $2.7 million.
For the year ended December 31, 2021, the company expects Net revenue to increase approximately 19% to $49.6 million. Operating loss is expected to range between $15.5 million and $15.8 million compared to $8.6 million.
For the year 2022, the company expects net sales to range between approximately $59-62 million, reflecting growth of approximately 20-25% from 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. 
