Guru Organic Energy Shares Slip After 2Q Results

By Robb M. Stewart

Guru Organic Energy’s shares fell Wednesday after the Canadian energy drinks company’s loss in the latest quarter narrowed.
In morning trading, the shares were down 1.7% at C$2.82, narrowing the year-to-date gain to 25%. The stock had fallen as low as C$2.60 early in the session.

Guru’s second-quarter loss narrowed to 2.66 million Canadian dollars ($2 million), or C$0.08 a share, from a loss of C$3.97 million, or C$0.12, a year earlier.
The loss before interest, tax, depreciation and amortization on an adjusted basis narrowed to C$2.48 million from C$3.75 million, which the company said was largely thanks to lower selling and marketing expenses and general and administrative costs during the period.
Revenue rose 1.4% to C$7.71 million, driven by sales in Canada and the launch of its Theanine Fruit Punch drink. Analysts polled by FactSet were expecting sales of C$7.6 million.
Write to Robb M. Stewart at [email protected]