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BIG ROCK BREWERY ANNOUNCES THIRD QUARTER 2023 RESULTS: CONTINUED IMPROVEMENT IN OPERATING INCOME AND ADJUSTED EARNINGS
BIG ROCK BREWERY ANNOUNCES THIRD QUARTER 2023 RESULTS: CONTINUED IMPROVEMENT IN OPERATING INCOME ...
About this update from Big Rock Brewery Inc.
[{"type":"text","content":"\n \n \n \n BIG ROCK BREWERY ANNOUNCES THIRD QUARTER 2023 RESULTS: CONTINUED IMPROVEMENT IN OPERATING INCOME AND ADJUSTED EARNINGS\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnsbbb0{\nBORDER-BOTTOM:black 0pt\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnpr2{\nPADDING-RIGHT:0.17em\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnpl2{\nPADDING-LEFT:0.17em\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Nov. 14, 2023\n \n \n /CNW/ -\n \n Big Rock Brewery Inc.\n \n (TSX: BR) (\"\n \n Big Rock\n \n \" or the \"\n \n Corporation\n \n \") today announced its financial results for the three and nine months ended\n \n September 30, 2023\n \n .\n \n \n \n Financial Summary\n \n \n \n For the three months ended\n \n September 30, 2023\n \n , compared to the three months ended\n \n September 30, 2022\n \n , the Corporation reported:\n \n \n \n net revenue of\n \n $11.6 million\n \n , down 3% from\n \n $11.9 million\n \n ;\n \n \n adjusted earnings before interest, taxes, depreciation, and amortization\n \n (\"Adjusted EBITDA \")\n \n of\n \n $1.0 million\n \n , up from\n \n $0.1 million\n \n (Adjusted EBITDA is a non-GAAP financial measure, see \"\n \n Non-GAAP Measures\n \n \");\n \n \n sales volumes, exclusive of co-packing volumes, of 44,451 hectolitres (\"\n \n hl\n \n \") down 6% compared to 47,154 hl;\n \n \n operating income of\n \n $0\n \n .06 million compared to a loss of\n \n $1.1 million\n \n ; and\n \n \n net loss of\n \n $0.2 million\n \n , down from\n \n $1.1 million\n \n .\n \n \n \n For the nine months ended\n \n September 30, 2023\n \n , compared to the nine months ended\n \n September 30, 2022\n \n , the Corporation reported:\n \n \n \n total net revenue of\n \n $34.7 million\n \n , down 5% from\n \n $36.6 million\n \n ;\n \n \n Adjusted EBITDA increased\n \n $2.8 million\n \n , representing an improvement from\n \...