<p>New Age Beverages (NASDAQ: NBEV) results for the fiscal fourth quarter of 2019 have NBEV shares hit hard on Monday afternoon. This follows a diluted loss of 83 cents per share on revenue of $ 59.23 million. These are both worse than Wall Street‘s estimates of -8 cents per share and a turnover of 66.2 million dollars.
Source: monticello / Shutterstock.com
Let’s take a closer look at the latest income report from New Age Beverages.
The diluted loss per share was a major change from -4 cents during the fourth quarter of 2018. Revenue is 323% higher than $ 14 million from the same period last year. The operating profit of $ 65.5 million is 546.4% worse than the previous year than the operating profit of $ 10.1 million. New Age Beverage’s earnings report also has a net loss of $ 65.85 million. That’s a huge decrease from its $ 2.6 million net loss over the same period last year.
Brent Willis, CEO of New Age Beverages, said this about NBEV share income:
In 2019, we increased our scale five times and developed from a company of 50 million dollars to one with net sales over 250 million dollars. At the same time, we gained access to a number of new channels and opportunities in our infrastructure, which now extends over 60 countries around the world. We also added global iconic brands such as Nestea, Volvic, Illy and Evian to our portfolio, strengthened our worldwide platform and made important investments in our leadership team. ”
The earnings report for New Age Beverages does not include the outlook for the 2020 financial year. However, we still know what Wall Street estimates. Analysts are looking for an adjusted gain of -19 cents on revenue of $ 283.68 million.
The NBEV share fell more than 20% on Monday afternoon.
Nick Clarkson is the web editor at InvestorPlace. At the time of writing, he had no position in any of the above-mentioned securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/03/new-age-beverages-earnings-nbev-stock-tanks-on-q4-loss/.
© 2020 InvestorPlace Media, LLC