Categories Earnings, Retail

New Age Beverages’ stock climbs on Q1 revenue growth of 404%

Organic beverage company New Age Beverages Corporation (NASDAQ: NBEV) reported net revenue growth of 404% year-over-year to $58.3 million for the first quarter of 2019.

Net loss narrowed to $1.6 million, or $0.02 per share, versus $2.7 million, or $0.07 per share, in the prior-year period, reflecting an improvement of 39%.

Despite the company missing market estimates for revenue and earnings, shares climbed over 4% in premarket hours on Thursday.

CEO Brent Willis said, ”We are pleased with our first quarter operating results, especially in light of the fact that we were in the midst of integrating Morinda into New Age. With our strengthened balance sheet and financial flexibility, we look to accelerate our business in the second half of 2019, buttressing our organic growth coming from the launch of our CBD portfolio, our brands now entering national distribution in the US, and a number of other initiatives launching in the second quarter and throughout the rest of the year.”

Gross profit increased 1,375% year-over-year to $38.6 million. Gross margin rose to 66% versus 23% in the prior year, mainly due to mix and the combination with Morinda which was completed in December.

EBITDA grew to $0.6 million compared to a loss of $2.1 million last year. The company significantly strengthened its balance sheet with $110 million in cash versus $42.5 million at year-end. Total assets were $349.5 million versus $286.9 million on December 31, 2018.

On Tuesday, New Age announced the national expansion of its Bucha Live Kombucha brand at participating 7-Eleven stores. Bucha Live Kombucha is the only major shelf-stable brand, with a 12-month shelf life that is an industry first.

According to data technology company, SPINS, Kombucha is the fastest-growing category among all non-alcoholic beverages, with a sales increase of 31.4% year-over-year in 2018 and household penetration growth of 20%.


Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Stitch Fix (SFIX) Stock: Will the innovative biz model survive virus-led slump?

The business world is still struggling to come out of the virus-induced slowdown, but it seems almost every retail segment benefited from the pandemic at some point. The vaccination drive

General Mills (GIS): Three factors that are expected to help drive growth for the food company going forward

Shares of General Mills Inc. (NYSE: GIS) were up 3.2% on Wednesday after the company delivered better-than-expected results for the first quarter of 2022. Net sales rose 4% year-over-year to

IPO Alert: Allvue Systems sets IPO terms, to raise around $290 million

It is estimated that the alternative investments industry has expanded at a compound annual rate of 10.2% over the past ten years and had $11 trillion in assets under management

Add Comment
Viewing Highlight