SodaStream guides Q3 well below consensus -- SODA is halted and will resume trading at 8:00
Co issues downside guidance for Q3 (Sep), sees Q3 (Sep) revs of ~$125 mln vs. $153.83 mln Capital IQ Consensus, with operating income of $8.5 mln, below estimates near $17 mln.
- "Our U.S. business underperformed due to lower than expected demand for our soda makers and flavors which was the primary driver of the overall shortfall in the third quarter. While we were successful over the last few years in establishing a solid base of repeat users in the U.S., we have not succeeded in attracting new consumers to our home carbonation system at the rate we believe should be achieved. The third quarter results are a clear indication that we must alter our course and improve our execution across the board. We have already begun a strategic shift of the SodaStream brand towards health & wellness, primarily in the U.S., where we believe this message will resonate more strongly with consumers. In addition, we are developing a comprehensive growth plan for the Company that will encompass Marketing, Product and Innovation, Distribution, Operations and Organization. We intend to share more specifics around our growth plan when we report third quarter results later this month."
- Co will report Q3 results on Oct 29.
- SODA will resume trade at 8:00.