Press release
National Beverage Corp. Reports Impressive Third Quarter Revenues Plus Margin Improvement
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- National Beverage Corp. (NASDAQ: FIZZ) today announced results for its third quarter ended January 28, 2023. This
About this update from National Beverage Corp.
[{"type":"text","content":" FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--\nNational Beverage Corp. (NASDAQ: FIZZ) today announced results for its third quarter ended January 28, 2023.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230309005668/en/LaCroix New Variety Packs (Photo: Business Wire)\nThird Quarter Ended January 28, 2023 vs. Third Quarter Ended January 29, 2022:\n\n\nNet sales increased to $268 million, our highest third quarter sales;\n\n\nGross profit was $95 million or 35% of sales, the second highest in our history;\n\n\nNet income was $34 million;\n\n\nEarnings per share increased 12% to $.37; and,\n\n\nThe Company continued to generate strong cash flows, ending the quarter with $118 million of cash.\n\n\n“National Beverage was founded and has operated with the courage to follow a set of principles of ‘Good is never enough when better can be founded or invented,’ stated a company spokesperson. “We remain committed to margin management, maintaining solid cash flows and a stronger balance sheet, which combined with our brands and owner-entrepreneur governance model, have positioned National Beverage for long-term success in the changing consumer environment. This earnings report reflects the results of our third quarter with all indicators of revenues and margin performance tracking our targets. This progress reflects the current improvements in certain major costs that have abated from the immediately preceding quarters. The recent volume trends, combined with the higher cost but more stable operating environment, provides both enthusiasm and optimism for continuing improvements in gross margins.”\n\n“We continue to innovate and add new flavors and packaging across all our brands. Recently, we developed two unique packages for LaCroix variety packs designed for the important and growing club store segment that opportunistically supplies families, savvy shoppers and small business owners seeking variety, value and convenience. Our latest Shasta products have been created with new ZERO Sugar flavorings. These and other products will be promoted with social media, in-store merchandising, influencer sponsorship and unique summer campaigns.”\n\n“Name another brand that amplifies its reputation with every new flavor. Our LaCroix sparkling water continues to revitalize its loyal following a...