New Age Beverages’ (NASDAQ:NBEV) earnings for the fiscal fourth quarter of 2019 have NBEV stock taking a hard hit Monday afternoon. That follows diluted loss per share of 83 cents on revenue of $59.23 million. These are both worse than Wall Street’s estimates of-8 cents per share and revenue of $66.2 million.
Let’s take a more in-depth look at the most recent New Age Beverages earnings report.
- Diluted loss per share was a major switch from -4 cents in the fiscal fourth quarter of 2018.
- Revenue is sitting 323% higher than the $14 million from the same period of the year prior.
- Operating loss of $65.5 million is 546.4% worse year-over-year than the operating loss of $10.1 million.
- The New Age Beverages earnings report also has it bringing in a net loss of $65.85 million.
- That’s a huge decrease compared to its net loss of $2.6 million during the same time last year.
Brent Willis, CEO of New Age Beverages, said this about the NBEV stock earnings:
“In 2019 we increased our scale five times, evolving from a $50 million company to one with net revenue above $250 million. Whilst doing so, we gained access to a range of new channels and opportunities across our infrastructure that now spans 60 countries worldwide. We also added global iconic brands like Nestea, Volvic, Illy, and Evian to our portfolio, strengthened our platform worldwide and made important investments in our leadership team.”
The New Age Beverages earnings report does not include its fiscal 2020 outlook. However, we still know what Wall Street is estimating. Analysts are looking for adjusted earnings of -19 cents on revenue of $283.68 million.
NBEV stock was down more than 20% on Monday afternoon.
Nick Clarkson is a Web Editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities.