New Age Beverages earnings for the fourth quarter of 2018 has NBEV stock down slightly on Friday.
New Age Beverages (NASDAQ:NBEV) reported revenue of $14 million for the fourth quarter of the year. This is an increase over the company’s revenue of $11.25 million reported in the fourth quarter of the previous year. It also comes in above Wall Street’s revenue estimate of $13.54 million for the period.
Despite the revenue beat for the fourth quarter of 2018, NBEV stock isn’t taking off strongly. This may have to do with its operating loss of $10.13 million for the quarter. This is a wider operating loss than the $4.87 million that was reported in the same period of the year prior.
It’s also worth noting that the New Age Beverages earnings report also includes gross profit being 23% of net sales for the fourth quarter of 2018. This matches the company’s gross profit as a percentage of net sales data from its fourth quarter of 2017.
“New Age expects to generate more than $320 million in net revenue and greater than $15 million in EBITDA in 2019, as we expand to national distribution on our brands in the US, and take advantage of a number of global growth opportunities that we can now execute through the newly acquired global footprint,” Greg Gould, CFO of New Age Beverages, said in a statement.
NBEV stock started off up 4% on Friday morning, but is now only up slightly as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
