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Edible Garden AG , Inc. (EDBL)
NASDAQ:EDBL
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Earnings Data
Report Date
Mar 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.36Last Year’s EPS
-$10.8Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 13, 2024
|% Change Since: 36.99%
|Next Earnings Date:Mar 19, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted significant improvements in gross profit and strategic business shifts towards higher-margin products, along with strengthened financials through capital raising and debt reduction. However, revenue declined in Q3 2024 due to strategic shifts and weather impacts, although the company remains optimistic about future growth and profitability.Company Guidance
During the Edible Garden AG Incorporated Q3 2024 earnings call, the company reported an increase in gross profit of $687,000 compared to the same period last year, with the gross profit margin rising to 27.1%. For the first nine months of 2024, gross profit surged by $1.7 million, marking a 324% increase over the previous year. Despite a decline in third-quarter revenue to $2.6 million from $3 million in Q3 2023, due to phasing out lower-margin products, the company strengthened its balance sheet by raising approximately $5.65 million in gross proceeds through a September S1 offering. This capital was utilized to pay down $3.2 million in debt due in 2025, reducing leverage and positioning the company closer to achieving positive free cash flow. The sales of cut herbs increased by 55% year-over-year for the first nine months of 2024, and the company continued to expand its product offerings and market presence, notably through partnerships with major retailers like Walmart. Edible Garden's strategic initiatives, including investments in new production lines and innovative product launches, aim to drive sustainable cash flow and profitability in the future.Significant Gross Profit Increase
Gross profit increased by $687,000 in Q3 2024 compared to the same period last year, with a gross profit margin growth to 27.1%. For the first 9 months of 2024, gross profit surged by $1.7 million, a 324% increase over the prior year.
Strategic Product Mix Shift
The company made a strategic decision to phase out lower-margin products, such as legacy floral business, and installed new production lines for higher-margin products, aiming for sustainable cash flow and profitability.
Strengthened Balance Sheet
Raised approximately $5.65 million in gross proceeds through a September S1 offering, which helped in paying down $3.2 million in debt and investing in working capital ahead of the holiday season.
Partnership with Walmart
Enhanced collaboration with Walmart, including the debut of sustainably grown Hydro Basil and the launch of Edible Garden Vitaminway lines on Walmart Marketplace.
Successful USDA Grants and R&D Investment
Received grants from the USDA Organic Certification Program, reducing expenses and supporting R&D for new product innovation.
New Product Lines and Market Expansion
Introduced Kick Sports Nutrition line and experienced growth in Pulp Flavors line, with plans to expand distribution.
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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 | $0.17 | $0.15 | -11.76% |
| Aug 14, 2024 | $1.18 | $1.30 | +10.17% |
| May 15, 2024 | $4.27 | $4.94 | +15.69% |
| Apr 01, 2024 | $6.40 | $6.99 | +9.22% |
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 19, 2025, TBA Not Confirmed.
What is Edible Garden AG , Inc. (EDBL) earnings time?
Edible Garden AG , Inc. (EDBL) earnings time is at Mar 19, 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 -$0.36.
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