REED - Reed's stock rally on guiding Q4 sales above consensus

Reed’s (REED) +5.6% premarket, expects Q4 net sales growth of 44% Y/Y and 22% Q/Q to ~$10.3M vs. consensus of $9.26M.For FY2020, net sales to grow 22% Y/Y to ~$41.3M vs. consensus of $40.2M. “We are pleased to report continued net sales growth representing positive momentum across all channels,” stated Norman E. Snyder, Chief Executive Officer of Reed’s, Inc. “Despite the challenges we have navigated in the face of the pandemic this year, these results demonstrate the continued support for the Reed’s brand and the future opportunities that lie ahead.”

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Reed’s stock rally on guiding Q4 sales above consensus