BRC Inc. (NYSE:BRCC) Q3 2023 Earnings Call Transcript

So for instance, in a retailer where we may go in in bags, maybe they reset their pods business on a different schedule. Some of the successes that we’ve been having are driving conversations for retailers to say they would open up windows to potentially get us on shelf even sooner. So, in some cases, we’re going to work through their schedule. In some cases, we’re going to push hard to say, hey, based off of really strong performance, we’re going to suggest that we push our business on shelf even earlier than maybe where their current resets are.

Matt McGinley: Got it. And on the — you had a big drop in salaries, wages, and benefits that I assume was driven by the cost-cutting program that you instituted in the first quarter. Is that $14 million base now the right dollar level to assume in the fourth quarter? You made the comment about some of the $30 million in cost savings might be realized by year end, but I’m not sure if you’re implying that there’s a further dollar decline here, if we should assume it’s kind of around this dollar base into year end?

Steve Kadenacy: Yeah, and I don’t want to guide on a singular line item, but I wouldn’t adjust your models down that far. There were some obviously one-time benefits that we took relative to stock-based compensation for some of the senior executives that left that were unique, that won’t reoccur. But I would bring it back up if that’s what you’re thinking for the model.

Matt McGinley: Yeah. Okay, thank you.

Operator: Thank you. There are no further questions at this time. I’d like to hand the floor back over to Chris Mondzelewski for any closing comments.

Chris Mondzelewski: Well, I want to thank everyone for their time. Thank you for the questions on the business and the involvement in the business. I just want to close the call in the way that Evan opened it to reiterate our thanks to all of the veterans out there around the country, around the world that are, that have served in the past, that are serving currently. So everyone please have those people in your mind as you move into the weekends. And again, it was great having the conversation. I hope everyone has a great rest of the day.

Operator: This concludes today’s conference. You may disconnect your lines at this time. Thank you for your participation.