Fort Lauderdale, Florida, July 19, 2021 (GLOBE NEWSWIRE) -- In a release issued under the same headline earlier today by Splash Beverage Group, Inc. (NYSE American: SBEV), please note that Q3 revenue was $4.14 million and not $5.78 million as previous stated. The corrected release follows:
Splash Beverage Group, Inc. (NYSE American: SBEV) (the "Company") (https://www.SplashBeverageGroup.com), a portfolio company of leading beverage brands, today announced forward-looking revenue guidance for its current Q3, upcoming Q4 2021, and fiscal year 2021 results.
With respect to Q3, Splash sees revenue of $4.14 million, implying an increase of 34% sequentially and 310% over its comparative quarter in 2020. The company expects its FY Q4 2021 results to reach $5.78 million, representing a sequential quarterly increase of 39% and a comparative quarterly increase of 366%. Year-end guidance implies for total revenues to reach $15.97 million, implying year-over-year growth of 436%.
Business Highlights
Splash Beverage Group continues to accelerate brand growth throughout key markets, both domestic and international.
- Company stock uplisted to the NYSE/American Exchange in June 2021
- Since the start of 2021, the company has entered into significant distribution agreements with at least seven leading independent US distributors
- Began operations on its first acquisition Copa di Vino
- Secured distribution for all its brands in China through a deal with American Software Capital targeting a combined market opportunity of more than $64 billion
- Announced that its Qplash platform will integrate all its brands to rapidly expand its national market presence
William Meissner, President & CMO, said, "We are seeing broad market penetration of all our brands across US markets and expect similar traction in our overseas distribution agreements, making us comfortable to provide initial revenue guidance heading into the back half of this year. We are particularly encouraged by the current 71% increase in Pulpoloco sales compared to last year, as well as significant growth and positive consumer response to Copa Di Vino, TapouT hydrating sports drink, and flavored SALT 100% agave tequila brands."
He added, "Heading into the back half of this year, which is usually a seasonally strong period for beverage and spirits sales, we expect to see an acceleration of brand development across the board. We believe that both SALT tequila and Copa Di Vino are positioned for at least double-digit percentage growth, and with TapouT being part-owned by the WWE, we believe the market penetration for that product can lead to exponential growth on a national scale."
SALT 100% agave tequila is currently offered in national retail chains, including Walmart stores and 48 Sam's Club locations throughout the United States. Pulpoloco sangria, Copa Di Vino, and TapouT hydrating sports drink are represented by leading regional distributors, with several agreements made with top-performing Anheuser Busch distributorships.
Splash Beverage Group, Inc. will provide further updates to its forward-looking revenue guidance when appropriate.
Follow Splash Beverage Group on Twitter: www.twitter.com/SplashBev
About Splash Beverage Group, Inc.:
Splash Beverage Group specializes in manufacturing, distribution, sales & marketing of various beverages across multiple channels. SBEV operates in both the non-alcoholic and alcoholic beverage segments which they believe leverages efficiencies and dilutes risk. SBEV believes its business model is unique as it ONLY develops/accelerates brands it perceives to have highly visible pre-existing brand awareness or pure category innovation.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements and factors that may cause such differences include, without limitation, the risks disclosed in the Company’s Annual Report on Form 10-K filed with the SEC on March 8, 2021, and in the Company’s other filings with the SEC. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.
Contact Information:
Splashbeveragegroup.com
info@splashbeveragegroup.com
954-745-5815
SOURCE: Splash Beverage Group, Inc.
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