Reed's, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
March 28, 2024 at 04:58 pm EDT
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Reed's, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 11.69 million compared to USD 15.04 million a year ago. Net loss was USD 6.6 million compared to USD 6.77 million a year ago. Basic loss per share from continuing operations was USD 2.07 compared to USD 2.84 a year ago.
For the full year, sales was USD 44.71 million compared to USD 53.04 million a year ago. Net loss was USD 15.52 million compared to USD 20.06 million a year ago. Basic loss per share from continuing operations was USD 4.39 compared to USD 9.07 a year ago.
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. 
