Black Rifle Coffee (BRCC) Hits Bullseye on Q1 Earnings Results, Stock Trading Up ~25%
US Veteran owned, BRC, Inc. (BRCC) announced its first quarter earnings which is keeping investors awake this morning, as the stock has been up over 25% upon the release. The company’s quarterly adjusted EBITDA came in smoking hot at $14.1M vs FactSet $1.7M. Additionally, BRC beat on other earnings metrics reporting revenues of $98.4M vs FactSet $97.1M and cited net income at $1.9M vs FactSet ($6.1M). Gross margins from the previous year increased to 42.9% from 33.0%.
Black Rifle increased its 2024 guidance to adjusted EBITDA of $32M to $42M and cited gross margins are expected to be at the high end of the range 37%-40%. With regards to its future outlook, the company also announced its new partnership with Keurig Dr Pepper for K-Cup pod manufacturing and distribution.
The stock is currently leading the PRISM Consumer Products Index as it brews positive sentiment on the Street with a robust growth strategy ahead.
