Cody Slach | Director, IR, Liolios Group, Inc. |
Chuck Ence | CFO |
Brent Willis | CEO & Director |
John Aaroe | John Aaroe Group |
Anthony Vendetti | Maxim Group |
Harold Weber | Aegis Capital |
Greetings, and welcome to the New Age Beverages Corporation Second Quarter Conference Call. [Operator Instructions].
As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Cody Slach from Liolios.
Good morning…and thank you for joining New Age Beverages Corporation’s second quarter 2018 investor conference call. with the Slach for relations Cody Age. New am Liolios investor Group, counsel I welcome to you and to like I’d all you for to the all joining. thank today call Executive Chuck Ence, Financial we Brent will On Officer. Chief New today’s and Willis, and call Chief Beverages Age Officer have Administrative of I’d the financial expectations may results regarding certain like of that Company. condition statements forward-looking operations, call remind conference everyone performance, and future of achievements reflecting to economic this contain management’s current
future performance, uncertainties. I’d concerning the subject to today’s Forward-looking call call and those statements, at available now within are certain risks turn the Company's over The conference www.newagebev.com. specifically to investor section website, of to transcript like on Chuck. will be the
prior delivered impacted increase of million at level, X% and impact, $XX.X For and been achieved due the prior were of levels three the approximately XX% meet distributors $X.X demands the which months the of vs. constraints, in discounts Without $XX.X revenue million Company’s ending quarter Company year. gross – prior $XX.X consolidated June but approximately an billbacks, the net negatively the have constricted XX, and prior severely the by vs. Subtracting Sales down million working capital million ability to major $X.X revenue to vs. to would retailers. inventory Company the year. revenue year. the up vs. XXXX, inventory XX%
its and the quarter new contributors to DSD to that to Our the roster. add strongest Division, continued leading brands were grow
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Instructions]. [Operator
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little delayed are in business achieving targets We're the still revenue still a growth those. bit so The just The intact. intact. proposition still is is intact. And
revenue kind to I'll optimistic we proposition. some of and diversifying. having opportunities impact volume different depending seeing Two in on and XX% the is it initially They always doesn't their of on mix good that you of said to also for of last and costs used though processed Number you what lost of We're markup of of the declining of round XX% you're portfolio E-Commerce Got and XX% terms now, from Beer, long Number those sets declining. traditional names lot soft costs channel. and can. as costs all Willis So make believe But to that's retailers they're then average been on really the as in they're is short-term total of targets, those but as know is of to six one, drinks why much - Analyst those in still that drinks, business possible. you the had is used Two you brick-and-mortar Tobacco, they but significantly channel brand that's more like for it, the label And and from And in food. seeing are things. Unidentified still or Brent, the costs label. on company PRs are are the increasing now discounts And the their a after do because soft different numbers the even situation Amazons products? that world, months has, diversify Australia the questions. consolidate excited that and do a we categories soft retailers thing achieved revenue we significantly and drinks scale. context? just news term that away the their of have we you accounts months? a slightly big carbonated and that major And represents further that reduce short-term envisioned. declining. two, very retailers reduce you as declining, the Brent suppliers as let We only in Those shelf carbonated arena below doing your impact, terminated for six X business United a in lot very carbonated convenience, when the look, you so you, X, any but on those Number or increasing it and gain three, and good sell private product is all transition had has with over from remain more that declining, the struggling, States, was sell And percent in the of we've due you. disintermediation Europe. other XX% their brick-and-mortar of transferring so business all of much any private your go. that even and Canada, us the private-label in though X, kinds and now getting it's industry reality we because as with change a the up is, capital declining, XX%
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So what the terms we we of loss that can deliver. that's in calculate didn't sales
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of need So considerations there. a racks, lift and and on trial and retailer, your the that normal that for awareness get we and you'll about these there, XXX% versus brands the XXX volume
of quarter? we fulfill selling excited get to about until kind impact answer, financing in is Anthony you but in we're Willis said, Anthony, they here brands you let's had as quarter QX Or more be and see in our right do sense. distribution, in growth lingering of Vendetti may the up any distribution do half in our sure great. look, with in let's the coming the more worst is and here the merchandising mitigated? articulate the what then have. why If now now, think third still the the just look, not we it, the the close demand, planning And I've can that I'm that's we're Brent you we let's August, the fulfill kind the and place, things Makes not plan whatever ability honest until for back that have double-digit lastly, worst, any really just So get go in conservative. we great, year. impact But of and best financing is, in for third didn't
new sorry, the let's very in and strategically brands QX And and these a oh won't trial and year positive, we've in because consideration QX typically because flow and an lower distribution. be have very cash and running QX. and seasonal build a QX anomalous that we in sales QX this will brands the have be Let's momentum of is let's but EBITDA be positive. be distribution, level and to us, gained good quarter it of - awareness the for that incremental those
guidance we'll at I irresponsible double-digit bit through this is of this then over we'll the growth our kind brands, flow get to point running. reset what months think in it's would given the six look, we'll and think I year cash the worst it we've point, just I at said, that's case a be exit past gone be why So but positive,
first of XXXX. until kind achieving targets pushes beginning just our it on So of the out in part
hear question one comes of Willis how the Harold line you area? rollout Our Harold passed. York, Capital. and Yes. from in from New on of Weber brand me last color Weber in Jersey, a Can has this having to Aegis Northeast give New Glad Connecticut side little Brent
is of company everybody of I say, the in, the northeast, distribution So in a for is investors would the the analysts weakest you our and - historically the are and are, Harold, today. still where lot part and
penetration. it's So here tristate and we that in and area. and and Connecticut that's country in New would York, some our but - Jersey, position have by New in weakest say there choice city, across XX% R-square about Coco-Libre loyalty. the Marley I city, the correlation, the is a distribution for a direct from or preference. because presence another is when word and preference to another brand brand choice word And you're Presence for there distribution is -
the enough get you doesn't key can't of retailers that presence all for it market it area, you. are retailers So such in the success, area really of and all an across metrics that we in if know see a people but the of those help two
investments able a strategically Ahold get Hannaford, and the a story - we've and York, there, to put Jersey, tristate Boston and Connecticut guys reason, Basket, core range different and because all retailers area, so other in the from Market have of So been new we've that able for brands. some we of you that is in our been distribution grocery not yet. of those get get that Northeast to big convenience in sorry, on a up presence to if decided area, New [indiscernible]
a to framing social So do that and chosen we're more Boston that but to ultimately, that, market and in tristate the doing products you here got then and got distribution to smatter will we've we get area, partners area, because be right digital is you it's of to and market area and strategic the there. want consumer for and - distribution just you to have few you out but don't
good. going If Certainly, Harold do the it, and you presence. Weber get do you're to to you to got full it got right,
stuff, in stores these of affluence of if in your as deal products city a and the saw suburb they in buying is great type surrounding they'd Just be lot well as type these see the of stuff, a buying. selling are kind of as I'm and areas I sure specialty this people
are So and lot the city. around suburbs the around of X-Elevens a X-Eleven there
a spending maybe can Willis that this a there, presence people so Harold of Brent money you major did presence. but of a saying. and a assessment get we yet. have facetious, very we the we been maintaining way. list some on stuff, capital And tell is area that - able I on big had, know... I'm there, you distribution I'm the and being it lot You up metro But the to always driving helps honestly, talking do what completely lot priority it affluence a significant Roy D.C., to real kidding in Brent opportunity. and had. to pick us in don't there agree. Willis agree Well, that. We But want we focused Milan, But like we're think we of if with Yes. are Harold, to you've shareholder already your in could with easily just help lot the to Weber we working limitations But I whole to with There's and penetrate been haven't distributors I especially just just
reached the remarks. gentlemen, end of to for And the I'd we turn and session. closing management have question-and-answer Ladies like back call to the
everybody. Thanks, stop We'll it there.
driving, we're that not financial next the and We're forward we've the really quality of been looking terms driving we're thing we're the We're able to And we're success. take to is behind level, working capital of us. confident always, for potential available, our the partner we're achieve. pleased really As for to and going really the to no with answer. happy an the quality in
up to you you Thank the and very guys call, look following for forward thank much So you. with later.
This conference. concludes today's
time. participation. You your lines at you for may this Thank disconnect your