Welcome to our dedicated page for Splash Beverage Group news (Ticker: SBEV), a resource for investors and traders seeking the latest updates and insights on Splash Beverage Group stock.
Splash Beverage Group, Inc. is a leading player in the consumer beverage industry, managing a diverse portfolio of brands. The company operates in two main segments: manufacturing and distributing non-alcoholic and alcoholic beverages, and retail sales of beverages and groceries online. With a focus on the E-Commerce segment, the company's flagship division Qplash marks its foray into the e-commerce channel. In the beverage-alcohol sector, the company adheres to the Three-Tier Distribution System, relying on independent distributors for local and regional distribution.
Splash Beverage Group (NYSE American: SBEV) shared a shareholder update highlighting recent growth and distribution agreements. The company has added over a dozen new distributors and several national retail authorizations, including Circle K, Publix, and Target. Gross sales grew by 73% quarter-over-quarter and 64% over nine months. The company has also secured financing through the sale of convertible notes and warrants. New hires, including a veteran sales leader, aim to capitalize on growth opportunities, bolstered by celebrity endorsements such as NFL star Drew Brees.
Splash Beverage Group (NYSE: SBEV) is set to present virtually at the Emerging Growth Conference on December 14 at 10:50 AM ET. CEO Robert Nistico will lead the presentation, expected to last around 30 minutes, providing updates and engaging with shareholders and the investment community. The event promotes real-time interaction and will be accessible for those who register. Splash Beverage is known for its innovative beverage portfolio, including brands like Copa di Vino and SALT tequila, aimed at accelerating growth in the beverage sector.
Splash Beverage Group (SBEV) has secured authorization from Publix to sell all four TapouT SKUs across 1,018 stores in Tennessee, Florida, Alabama, Georgia, and North Carolina. Publix is a major employee-owned supermarket chain with over 1,300 locations. CEO Robert Nistico highlighted this authorization as a significant milestone for the TapouT brand, stating it will enhance consumer accessibility and open new distribution opportunities as some distributors in these areas currently do not carry the product.
Splash Beverage Group (SBEV) has secured agreements with nine new beverage distributors across the southeastern U.S., enhancing the distribution of its TapouT hydration drink from Florida to Virginia. This expansion is expected to increase retail orders as TapouT gains traction. The distributors include Allstate Beverage, Southern Eagle, and Ajax Turner Company, among others. CEO Robert Nistico emphasized the critical role of distribution in driving retail growth. The company is optimistic about meeting rising demand as it prepares for 2023.
Splash Beverage Group (NYSE American: SBEV) has appointed James Michael Allred as Senior Vice President of Sales. Allred, with over 20 years of experience at Anheuser-Busch InBev, will enhance sales initiatives and expand the company's retail-chain customer base under President Bill Meissner. CEO Robert Nistico emphasized the importance of executing distribution opportunities across the U.S. as the company grows. Splash Beverage Group owns several beverage brands and aims to rapidly develop its portfolio and global distribution.
Goldman Small Cap Research has released a research report on Splash Beverage Group, Inc. (NASDAQ:SBEV), showcasing the company's potential for growth. Headquartered in Florida, SBEV is expanding its diverse beverage portfolio, which includes brands like Copa di Vino and SALT. The report emphasizes a predicted revenue increase from $11M in 2021 to $30.7M in 2023. Despite a strong sales growth forecast of 52.8%, SBEV's P/S ratio remains low at 1.4x compared to the industry average of 5x, indicating significant investment potential.
Splash Beverage Group (SBEV) reported Q3 2022 financial results, showing a 73% increase in gross sales to $5.1 million, up from $2.9 million year-over-year. Revenue for the nine-month period rose 64% to $14.0 million.
The net loss narrowed to $5.1 million compared to $12.1 million in the prior year. The company attributed this reduction to increased revenue and lower operating expenses. Cash and equivalents decreased to $2.6 million as of June 30, 2022. Splash Beverage is evaluating credit facilities to support its expansion.
Splash Beverage Group, a leading beverage brand portfolio company, announced that CEO Robert Nistico will present virtually at the Sidoti Investor Conference on November 9, 2022, at 9:15 am ET. The presentation is accessible via live stream, and investors can also engage in one-on-one meetings during the conference. Splash's diverse brand portfolio includes Copa di Vino, SALT flavored tequilas, and more. This event reflects Splash's commitment to investor engagement and showcases its expanding presence in the beverage industry.
Splash Beverage Group (SBEV) has announced a partnership with the University of Alabama's Athletics Department, making Copa Di Vino the exclusive wine at various events, including NCAA football games. This collaboration will enhance Copa Di Vino's brand visibility, as it will be featured in broadcast and digital advertising associated with the athletics program. With over 1.4 million spectators annually and a significant fan base, this deal positions Copa Di Vino to capitalize on increased sales opportunities in large venues.
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