BRC Inc. sees 2023 results within previously issued guidance

The company said, “BRC Inc. provides annual guidance based on current market conditions and expectations for revenue, gross margin and Adjusted EBITDA, which is a non-GAAP financial measure. We expect 2023 results to be within the previously issued guidance range for revenue and adjusted EBITDA. However, while we expect to see sequential improvements in Gross Margins and Adjusted EBITDA in Q4 we will not be within the previously issued guidance range for Gross Margin as a result of nonrecurring non-cash losses incurred in connection with our plan to right-size our RTD inventory. While the impact of new FDM distribution will be minimal on 2023 results due to timing and reset cadence, we expect these launches and additional planned launches to continue to propel strong growth and improving profitability throughout 2024.”