brc inc. announces results of annual stockholder meeting

BRC Inc. (NYSE:BRCC), currently valued at $359 million and trading at $1.69 per share, held its annual stockholder meeting on May 28, 2025, where stockholders voted on key matters, as detailed in a recent SEC filing. The meeting was attended by a quorum of 119,977,998 shares out of the 213,146,148 shares eligible to vote. According to InvestingPro analysis, the company’s stock has experienced significant pressure, down 46% year-to-date.

The stockholders elected three Class III directors, Evan Hafer, Steven Taslitz, and Glenn Welling, to serve until the 2028 annual meeting. The election results were as follows: Evan Hafer received 90,045,262 votes in favor, 8,045,279 against, and 147,956 abstentions; Steven Taslitz received 91,142,150 votes in favor, 6,902,300 against, and 194,047 abstentions; Glenn Welling received 89,697,969 votes in favor, 7,206,495 against, and 1,334,033 abstentions. Each nominee also faced 21,739,501 broker non-votes. These directors face significant challenges ahead, as InvestingPro data indicates the company is not currently profitable and operates with moderate debt levels.

Additionally, the stockholders ratified the appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. The ratification received 118,560,250 votes in favor, 437,009 against, and 980,739 abstentions, with no broker non-votes.

These results were disclosed in a filing with the Securities and Exchange Commission.

In other recent news, BRC Inc. reported mixed financial results for Q1 2025. The company posted earnings per share (EPS) that met expectations with a loss of $0.04, while revenue slightly exceeded forecasts, coming in at $90 million against the anticipated $88.09 million. Despite this positive revenue performance, BRC Inc. experienced a significant stock drop of 16.46% in after-hours trading, which may be attributed to investor concerns over declining margins and a challenging market environment. The company’s gross margin notably declined by 680 basis points, adding pressure to profitability.

BRC Inc. maintained its full-year revenue guidance of $395-425 million and anticipates annualized cost savings of $8-10 million. The company also expects a $5 million tariff impact on EBITDA in 2025. In terms of product innovation, BRC Inc. launched its Black Rifle Energy drink, now available in nearly 12,000 retail locations, as part of its strategy to expand in the competitive energy drink market. Analysts from D.A. Davidson and Telsey Advisory Group discussed potential impacts of economic slowdowns and the company’s strategies for its energy drink launch, respectively. BRC Inc. continues to focus on cost management and efficiency improvements to navigate the current economic landscape.

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