Pope Francis recently told a crowd of Vatican visitors, "Do you know what I need for my knee?" The pope exclaimed with a smirk "Some tequila!"
Investors in ground-to-glass tequila company, Rogue One, Inc. (OTCMKTS: ROAG) have been praying to Francis' boss since the company was downgraded after a late filing earlier this year. Prayers have been answered, ROAG released an 8K Thursday that is the first filing since the Human Brands acquisition.
The 8K confirms ROAG has:
-Supply contracts with fifteen companies, ranging from 5,000 liters per month to 200,000 liters per month.
-$18 million in assets
This is just for the quarter ending June 30, 2021. There are several other filings expected which should theoretically take less time since they have occurred since the initial partnership with Human Brands.
ROAG is in a great position to become a major player in the tequila industry. The white-label tequila company has 400,000 agave plants. Agave prices of the key tequila ingredient have been on the rise since 2016, up 694%. This gives ROAG a leg up over competitors.
Other companies making news in the alcohol industry include:
Constellation Brands Inc (NYSE:STZ) - The alcohol beverage industry major Constellation Brands Inc has not been in the news for quite some time but back on May 6 the company had made a major announcement.
The company announced the pricing of the cash tender offers for outstanding 3.20% Senior Notes that will be due in 2023 and for the 4.5% Senior Notes due in 2023. It should be noted that the company also announced that the offers were being made as per the terms that had been indicated in the offer of purchase that had been created back on May 2, 2022.
Diageo (NYSE:DEO) - The next one to look into at this point is the blue-chip alcohol major Diageo. If you are interested in the sector then this is a stock that you could track. In the past year, the Diageo stock has managed to clock gains of as much as 15.7% and that was at a time when the overall market suffered due to a range of factors. In this context, it may be a good idea to note what analysts who cover Diageo have to say. 4 analysts have classified as a 'buy', while 8 have recommended holding and there has been none who recommended to sell.
Eastside Distilling Inc (NASDAQ:EAST) - Beverage company Eastside Distilling Inc, which is focused on consumers and is best known for premium spirits, is another one that could be worth looking into at this point in time. Earlier on in the week on Monday, the company announced its financial results for the first fiscal quarter.
Revenues went up to $3.8 million in the quarter from $3.2 million in the prior-year period and much of that was due to the higher bulk wholesale activities. Gross profits also went up to $0.9 million from $0.5 million on a year-on-year basis.
Splash Beverage Group Inc (NYSEAMERICAN:SBEV) In the Q1, Gross sales came in at $4.1 million compared to $2.2 million in the prior-year period, a jump of 86% over the prior-year period. Gross profit in the latest quarter was $832K compared to $517K in the prior-year period. r net loss from continuing operations was $5.7 million compared to $4.5 million in the prior-year period.
Robert Nistico, Splash Beverage Group's Chairman and CEO, commented, "Our 2022 first quarter results demonstrate how we are effectively executing our business strategy of acquiring and expanding undervalued beverage brands within our growing distribution system. Since our announcement in November 2021, when we reported our transformational agreement with AB ONE distributors, we have added 15 new distribution agreements, with 12 agreements in the first quarter alone."
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