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Edible Garden AG , Inc. (EDBL)
NASDAQ:EDBL
Earnings Data
Report Date
Mar 31, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-9Last Year’s EPS
-341.25Same Quarter Last Year
Moderate Buy
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 13, 2024
|% Change Since: -20.05%
|Next Earnings Date:Mar 31, 2025
Earnings Call Sentiment|Neutral
Edible Garden showed strong progress with significant growth in gross profit and strategic realignment benefits, including the expansion of the core herb business and exciting product launches. However, the company faced challenges with a flat overall revenue and increased net loss. The potential acquisition of Narayan Group and retail expansion are promising, but financial pressures remain.Company Guidance
During the Edible Garden AG Incorporated 2024 Fourth Quarter Business Update Conference Call, CEO Jim Krass highlighted significant developments and financial metrics. The company achieved a 181.3% increase in gross profit and improved its gross margin from 5.9% to 16.7% in 2024. This growth was driven by a strategic refocus on the core herb business, resulting in a 16.3% revenue increase in this segment, amounting to $1.7 million. The company's total revenue for the year was $13.9 million, slightly down from $14 million in 2023, due to the exit from lower-margin lettuce and floral categories. SG&A expenses rose by 15.8% to $11.6 million, partly due to higher legal and severance costs. Despite a net loss of $11.1 million for the year, the company strengthened its balance sheet and improved liquidity, setting the stage for profitability in 2025. The proposed acquisition of Narayan Group, a European producer of organic products, is expected to enhance margins and expand international presence. The company also launched new products, including Kick Sports Nutrition and Squeezables, contributing to a diversified, high-margin portfolio.Significant Gross Profit Growth
Gross profit for 2024 grew by 181.3%, and gross margin nearly tripled from 5.9% to 16.7%, showcasing the strength of Edible Garden's core business and strategic plans.
Core Herb Business Expansion
The core herb business revenue grew by $1.7 million or 16.3% year-over-year, highlighting the strength of Edible Garden's focused approach.
Strategic Realignment Benefits
Strategic decisions to exit lower margin product lines resulted in improved profitability and operational efficiency, with cost of goods sold decreasing by $1.7 million or 12.7%.
Exciting Product Launches and Innovations
New products like Kick Sports Nutrition and Squeezables were launched, with Kick Sports Nutrition debuting on Amazon, targeting active lifestyle consumers.
Acquisition Plans for Narayan Group
Signing a non-binding letter of intent to acquire Narayan Group, a European producer, marking a potential transformative move for Edible Garden's strategic growth.
Retail Footprint Growth
Expansion of retail partnerships across the US, strengthening the presence in key consumer markets and supporting the demand for organic, locally sourced products.
Inclusion in the 2024 FoodTech 500
Recognized in the top 50 of the 2024 FoodTech 500, highlighting Edible Garden's leadership in food, technology, and environmental responsibility.
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EDBL 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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EDBL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 13, 2024 | $4.34 | $3.82 | -11.98% |
| Aug 14, 2024 | $29.37 | $32.50 | +10.66% |
| May 15, 2024 | $106.75 | $123.50 | +15.69% |
| Apr 01, 2024 | $160.00 | $174.65 | +9.16% |
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 Edible Garden AG , Inc. (EDBL) report earnings?
Edible Garden AG , Inc. (EDBL) is schdueled to report earning on Mar 31, 2025, TBA Not Confirmed.
What is Edible Garden AG , Inc. (EDBL) earnings time?
Edible Garden AG , Inc. (EDBL) earnings time is at Mar 31, 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 EDBL EPS forecast?
EDBL EPS forecast for the fiscal quarter 2024 (Q4) is -9.
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