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NHTC - New Age Beverages: CBD Beverages Delayed Core Business Continues To Contract
Natural Health Trends Corp.
1) NBEV is a roll-up of poorly performing brands, that have been poorly integrated and executed.
New Age Beverage (NBEV) has acquired brands that were doing approximately $320 million at the time of acquisition (Xing Tea, Bucha, Coco Libre, & Marley). Post closing, core brands are at a run rate of $48 million and recent acquisition, Morinda, is already seeing a weak Q1 (Q4 Investor Call 03-29-19). NBEV blamed Q1 softness on Chinese government crackdown of MLM companies.
2) Recent Q4 results and 1Q19 guidance demonstrate significant deterioration in both core