Sow Good's Stock Melts Under Heat of 3Q Loss

Dow Jones

2024/11/15

By Connor Hart

Sow Good shares fell to a 52-week low after the freeze-dried candy and treat maker swung to a third-quarter loss, hurt by a halt of shippments and quality concerns stemming from a distribution blunder.

The stock plummeted 51% to $4.76 in midday trading Thursday, marking a slight rebound from its earlier low of $4.21. Shares are down 55% since the beginning of the year.

The Irving, Texas, company reported a net loss of $3.4 million, or 33 cents a share, compared with a profit of about $334,000, or 7 cents a share, in the same quarter a year earlier.

Revenue fell 29% to $3.6 million, missing the $6.6 million that analysts surveyed by FactSet were expecting.

Chief Executive Claudia Goldfarb said the company was forced to pause shipments during the quarter due to heat-related quality concerns.

"Unfortunately, some melted products reached shelves, impacting short-term sales velocity," she said. "Moving forward, we are implementing temperature-controlled distribution to prevent similar issues next summer."

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

November 14, 2024 11:59 ET (16:59 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Shares are down 55% since the beginning of the year. \n</p>\n<p>\n  The Irving, Texas, company reported a net loss of $3.4 million, or 33 cents a share, compared with a profit of about $334,000, or 7 cents a share, in the same quarter a year earlier. \n</p>\n<p>\n  Revenue fell 29% to $3.6 million, missing the $6.6 million that analysts surveyed by FactSet were expecting. \n</p>\n<p>\n  Chief Executive Claudia Goldfarb said the company was forced to pause shipments during the quarter due to heat-related quality concerns. \n</p>\n<p>\n  \"Unfortunately, some melted products reached shelves, impacting short-term sales velocity,\" she said. \"Moving forward, we are implementing temperature-controlled distribution to prevent similar issues next summer.\" \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Connor Hart at connor.hart@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 14, 2024 11:59 ET (16:59 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SOWG","symbol_name":"SOW GOOD INC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2483815273","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483815273","pubTimestamp":1731603540,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Sow Good shares fell to a 52-week low after the freeze-dried candy and treat maker swung to a third-quarter loss, hurt by a halt of shippments and quality concerns stemming from a distribution blunder.The stock plummeted 51% to $4.76 in midday trading Thursday, marking a slight rebound from its earlier low of $4.21. 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Shares are down 55% since the beginning of the year. \n\n\n  The Irving, Texas, company reported a net loss of $3.4 million, or 33 cents a share, compared with a profit of about $334,000, or 7 cents a share, in the same quarter a year earlier. \n\n\n  Revenue fell 29% to $3.6 million, missing the $6.6 million that analysts surveyed by FactSet were expecting. \n\n\n  Chief Executive Claudia Goldfarb said the company was forced to pause shipments during the quarter due to heat-related quality concerns. \n\n\n  \"Unfortunately, some melted products reached shelves, impacting short-term sales velocity,\" she said. \"Moving forward, we are implementing temperature-controlled distribution to prevent similar issues next summer.\" \n\n\n \n\n\n  Write to Connor Hart at connor.hart@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 14, 2024 11:59 ET (16:59 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}