New Age Beverages Corporation NBEV is slated to report third-quarter 2019 results on Nov 14.
For the quarter to be reported, the Zacks Consensus Estimate is pegged at loss of 5 cents, which has been unchanged over the past 30 days. The consensus mark suggests an improvement from loss of 8 cents reported in the year-ago quarter. For quarterly revenues, the consensus estimate is pegged at $69.7 million, indicating significant improvement from the year-ago quarter’s reported figure.
Key Factors to Note
New Age Beverages has been benefiting from strength in its brand portfolio, including CBD-infused beverages. The company’s third-quarter results are likely to reflect its efforts to accelerate business and e-commerce channel, improving operating performance, and other marketing capabilities.
New Age Beverages has been gaining from the Morinda acquisition. Moreover, the company completed the acquisition of Brands Within Reach, thus strengthening its team and marketing abilities. These along with its partnerships with Walmart and 7-Eleven are likely to have contributed to the top line in the quarter to be reported.
However, higher costs associated with the integration of buyouts are expected to have affected New Age Beverages’ third-quarter performance. Moreover, the company has been facing stiff competition in the industry and other woes, including tariff-related concerns. These factors might have hurt its operating income and overall profits in the third quarter.
What the Zacks Model Says
Our proven model does not conclusively predict an earnings beat for New Age Beverages this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
New Age Beverage Corporation Price and EPS Surprise
New Age Beverage Corporation price-eps-surprise | New Age Beverage Corporation Quote
Although New Age Beverages carries a Zacks Rank #3, its Earnings ESP of 0.00% makes surprise prediction difficult.
Stocks Likely to Beat Earnings Estimates
Here are some companies you may want to consider as our model shows that these have the right combination of elements to post an earnings beat in the upcoming releases:
Ross Stores, Inc ROST has an Earnings ESP of +4.03%. It presently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Post Holdings, Inc POST currently has an Earnings ESP of +5.14% and a Zacks Rank # 3.
Spectrum Brands Holdings, Inc SPB has an Earnings ESP of +3.06% and a Zacks Rank #3.
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