BRCC Q1 net income $1.9M, EBITDA $14.1M; partners with KDP for K-Cup pods; FY24 guidance raised

BRC Inc.

2024-Q1 EPS reported $0.01 revenue$98,392,000

Q1 revenue $98.4M (+18% YoY); net income $1.9M vs loss $17.3M; Adjusted EBITDA $14.1M vs loss $5.2M.
Wholesale revenue surged 51% to $60.4M driven by FDM entry and RTD growth; DTC fell 11.4% to $32.6M.
Gross margin expanded 990 bps to 42.9% on product mix shift and lower costs.
Full-year FY24 Adj. EBITDA guidance raised to $32-42M (prev. $27-40M); gross margin expected at high end of 37-40%.
Strategic partnership with Keurig Dr Pepper for K-Cup pod manufacturing and distribution to accelerate growth and efficiency.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BRC Inc. reported full-year fiscal 2024 results: revenue $430.0 to $460.0. Guidance raised.

Period: full-year fiscal 2024
Revenue: $430.0 to $460.0
Guidance: raised
Result: guidance update

Exact text from the filing

For the full-year fiscal 2024, the Company updated its previous guidance as follows: FY2023 FY2024 Guidance (prev. reported) FY2024 Guidance (Updated) Actual Low High Low High Net Revenue(1) $ 395.6 $ 430.0 $ 460.0 $ 430.0 $ 460.0 Growth 31 % 9 % 16 % 9 % 16 % Gross Margin 31.7 % 37 % 40 % 37 % 40 % Adj. EBITDA $ 13.3 $ 27.0 $ 40.0 $ 32.0 $ 42.0 Free Cash Flow 80% Flow Through 80% Flow Through

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BRC Inc. reported the quarter ended March 31, 2024 results: revenue $98.4 million, net income $1.9 million.

Period: the quarter ended March 31, 2024
Revenue: $98.4 million
Net income: $1.9 million
Result: reported results

Exact text from the filing

BRC Inc. Reports First Quarter 2024 Financial Results Highlights • Net Revenue increased 18% in Q1 2024 to $98.4 million, driven by Wholesale growth of 51% compared to Q1 2023 • Net Income of $1.9 million and Adjusted EBITDA of $14.1 million, an increase of $19.2 million and $19.3 million, compared to a Net Loss of $17.3 million and Adjusted EBITDA Loss of $5.2 million compared to Q1 2023

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Source: SEC EDGAR

accession 0001891101-24-000014

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