Splash Beverage Group Inc Up 9.05% To $0.54 After Earnings Miss

Wednesday, November 15, 2023 - Splash Beverage Group Inc (SBEV) reported downside earnings and revenues today.

Wall Street earnings per share (EPS) projections for Splash Beverage Group Inc were at a loss of $0.11 per share. The company missed those estimates with an EPS loss of $0.13 per share. The loss of $0.13 per share (which represents a -18% EPS surprise) led to the company's profits rising 7% compared to last year when the firm reported an EPS loss of $0.14 per share. The increase in Splash Beverage Group Inc's annual growth rate represents how the business is performing well amid recent economic conditions.

Revenues were downbeat at $5.1 million. That is an increase of 5.63% in revenues from the year-ago report and is 35.05% lower than consensus estimates set at $7.9 million.

The stock is up 9.05% to $0.54 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Splash Beverage Group Inc a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 34. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Splash Beverage Group Inc specializes in manufacturing, distribution, and sales & marketing of various beverages across multiple channels. SBG operates in both the non-alcoholic and alcoholic beverage segments. The company's operations has its own vertically integrated B-to-B and B-to-C e-commerce distribution platform called Qplash, further expanding its distribution abilities and visibility. Its brands include TapouT and Salt Tequila. The company operates in two segments: Splash Beverage Group and E-Commerce.