Coffee Company BRC Shares Slide On Q1 Miss - BRC (NYSE:BRCC)

BRC Inc BRCC reported first-quarter FY22 sales growth of 35% year-on-year to $65.84 million, missing the consensus of $71.85 million.
Direct Consumer revenue remained flat at $38.3 million. Revenue from Wholesale jumped 135% to $22 million, and Outpost increased 397% to $5.5 million.
The gross profit increased 18% Y/Y to $23.2 million with a gross margin of 35%, a 499-basis point contraction.
General and administrative expenses rose 208% to $14.9 million.
The operating loss for the quarter was $(15.8) million versus an operating income of $0.5 million a year ago.
The company held $110.1 million in cash and equivalents as of March 31, 2022.
Adjusted EBITDA loss for the quarter was $(6.2) million versus an adjusted EBITDA of $2.3 million last year.
EPS loss of $(1.36) missed the analyst consensus of $(0.02).
Price Action: BRCC shares are trading lower by 5.17% at $9.91 in premarket on the last check Thursday.