Starco Brands, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 17, 2023 at 06:13 am EDT
Share
Starco Brands, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 17.51 million compared to USD 1.23 million a year ago. Net loss was USD 6.02 million compared to net income of USD 0.142413 million a year ago. Basic loss per share from continuing operations was USD 0.01. Diluted loss per share from continuing operations was USD 0.01.
For the six months, sales was USD 28.65 million compared to USD 2.15 million a year ago. Net loss was USD 7.74 million compared to net income of USD 0.183362 million a year ago. Basic loss per share from continuing operations was USD 0.02. Diluted loss per share from continuing operations was USD 0.02.
Starco Brands, Inc. is a consumer goods company. The Company operates in three segments: Starco Brands, Skylar, and Soylent. The Starco Brands segment is engaged in the development and sales of consumer goods products. The Starco Brands segment includes STCB, AOS, Whipshots Holdings and Whipshots LLC. The Skylar segment is involved in the sale of fragrances. The Soylent segment is engaged in the sale of nutritional products, mainly drinks. Its brands include Whipshots, the vodka-infused whipped cream; Art of Sport, the body care brand designed for athletes; Winona, the indulgent theater-popcorn spray powered by air; Skylar, the fragrance that is both hypoallergenic and safe for sensitive skin; Whipshots; and Soylent, a non-dairy nutrition brand. It commercializes consumer products manufactured by The Starco Group (TSG). TSG is a private label and branded aerosol and liquid fill manufacturer with manufacturing assets in verticals, including paints, coatings and adhesives, and household.