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New Age shares reverse premarket despite huge sales increase

Nov. 14, 2019 6:58 AM ETNewAge, Inc. (NBEVQ) StockNBEVQBy: Niloofer Shaikh, SA News Editor11 Comments
  • New Age Beverages (NASDAQ:NBEV) reports revenue growth of 427% Y/Y and +5.3% Q/Q in Q3.
  • Gross margin rate grew to 57.7% vs. 12.8% year ago, primarily due to the positive change in both product and channel mix, especially with the growth in our e-commerce business.
  • Brent Willis, Chief Executive Officer of NewAge, commented, “We had our best performance ever at NewAge and continue to build strength and momentum. Both China and Japan had their best results of the year, with China finishing the month of September at 5% growth versus prior year, and 92% growth versus the prior month. During the quarter, we closed on and began the integration of the Brands Within Reach acquisition, while continuing to fully integrate the Morinda operations into NewAge. All of these initiatives are major undertakings and the team continues to do an outstanding job in both driving performance and building out our global platform at the same time.”
  • NBEV -6% premarket.
  • Previously: New Age Beverages EPS misses by $0.10, misses on revenue (Nov. 14)

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