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Wildpack Announces Third Quarter Financial Results
Wildpack Announces Third Quarter Financial Results Canada NewsWire Th...
About this update from Wildpack Beverage Inc.
[{"type":"text","content":"\n \n \n \n Wildpack Announces Third Quarter Financial Results\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Third Quarter Highlights:\n \n \n \n \n Gross margin increased by 56% to 19.7% in Q3 over Q2 2021\n \n \n Total can volume increased by 36% to\n \n 24.8M\n \n in Q3 over Q2 2021\n \n \n Adjusted EBITDA\n \n *\n \n increased by 137% to\n \n $436K\n \n in Q3 over Q2 2021\n \n \n Quality assurance yield increased 35% in Q3 over Q2 2021\n \n \n Completed acquisitions of Craftpac, LLC in\n \n Marietta, GA\n \n and Vertical Distilling, LLC in\n \n Longmont, CO\n \n \n \n Increased annual run rate decorating capacity by 48 million cans\n \n \n Progressed construction on the label printing line in the\n \n Las Vegas\n \n facility, on schedule for pilot production in Q4 2021\n \n \n \n *Non IFRS Measure - See \"Use of Non-IFRS Measures\" section for further information.\n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 29, 2021\n \n /CNW/ -\n \n Wildpack Beverage Inc.\n \n (TSXV: CANS) (OTC: WLDPF)\n \n (\"Wildpack\"\n \n or the\n \n \"Company\")\n \n announces unaudited financial results for the third quarter ending\n \n September 30\n \n \n ,\n \n 2021. All currencies referenced herein are to US dollars. Wildpack reported in Q3 2021, revenue of\n \n $7.069 million\n \n , gross profit margin of 19.7%, positive Adjusted EBITDA of approximately\n \n $436,000\n \n , normalizing expenses of\n \n $1.045 million\n \n and a net loss of\n \n $1.493 million\n \n on total can volume of 24.863 million.\n \n \n \n \n \n \n \n \n \n Wildpack wholly acquired the outstanding securities of Craftpac, LLC on\n \n July 2, 2021\n \n for\n \n $1.89 million\n \n and Vertical Distilling, LLC on\n \n August 20, 2021\n \n for\n \n $4.14 million\n \n with consideration paid and payable in cash. Both acquisitions have a history of cash flow positive operations and represent key geographic locations with no overlap of the current network of Wildpack's facilities.\n \n \n Regarding these acquisitions,\n \n Thomas Walker\n \n , CGO said: \"We are very pleased wit...