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Eastside Distilling Inc (EAST)
NASDAQ:EAST
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Earnings Data
Report Date
Mar 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 14, 2024
|% Change Since: 27.74%
|Next Earnings Date:Mar 26, 2025
Earnings Call Sentiment|Neutral
The earnings call depicts a company undergoing significant strategic changes with successful restructuring leading to improved financial metrics in the spirits division, and the acquisition of Beeline Financial Holdings, which promises future growth. However, challenges remain with a struggling tequila brand and increased corporate expenses.Company Guidance
During the Eastside Distilling Third Quarter 2024 earnings call, Tiffany Milton, the Chief Accounting Officer, reported sales of $783,000 with an improvement in gross profit for the quarter. The spirits division achieved $46,000 in positive EBITDA before corporate expenses, marking a significant turnaround from a previous loss. However, corporate expenses increased due to professional fees linked to a merger transaction, and the company raised $440,000 through a direct equity placement. Geoffrey Gwin, the CEO, highlighted the acquisition of Beeline Financial Holdings, Inc., a digital mortgage technology company, and expressed optimism about Beeline's potential in the $1.5 trillion U.S. mortgage origination market, particularly as the company anticipates favorable market conditions with lower interest rates. Gwin also stated that the spirits business achieved positive EBITDA, indicating progress despite ongoing challenges, and emphasized the strategic moves aimed at enhancing shareholder value.Positive EBITDA in Spirits Division
The spirits division generated $46,000 in positive EBITDA before corporate expenses, marking a notable turnaround from a loss in the previous year.
Acquisition of Beeline Financial Holdings
Eastside Distilling acquired Beeline Financial Holdings, a digital mortgage technology company, which is expected to align with public company objectives and promises significant growth.
Successful Restructuring of Spirits Business
The company successfully restructured its spirits division to achieve profitability and improved gross profit.
Direct Equity Placement
Raised $440,000 through a direct equity placement, which supports ongoing strategic initiatives.
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EAST Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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EAST Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 14, 2024 | $0.55 | $0.54 | -1.82% |
| Aug 14, 2024 | $0.72 | $0.73 | +1.39% |
| May 13, 2024 | $1.49 | $1.06 | -28.86% |
| Apr 01, 2024 | $1.17 | $0.98 | -16.24% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Eastside Distilling Inc (EAST) report earnings?
Eastside Distilling Inc (EAST) is schdueled to report earning on Mar 26, 2025, TBA Not Confirmed.
What is Eastside Distilling Inc (EAST) earnings time?
Eastside Distilling Inc (EAST) earnings time is at Mar 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is EAST EPS forecast?
Currently, no data Available
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