Press release
National Beverage Corp. Reports Robust Earnings on Record Revenues
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- National Beverage Corp. (NASDAQ: FIZZ) today announced results for its first quarter ended July 29, 2023. Compared
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 first quarter ended July 29, 2023. Compared to the prior year:\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230907532531/en/LaCroix Mojito and Sunshine - newest flavors! (Photo: Business Wire)\n\nNet sales increased to $324 million, a record;\n\n\n\nOperating profit increased 36% to $63 million;\n\n\n\nEarnings per share increased 39% to $.53; and\n\n\n\nCash generated by operations increased $30 million to $70 million.\n\n\n\n“Reflecting on our historical financial performance, the first quarter has always been our most significant, serving as a reliable preview of the coming fiscal year. Historically, there has been a significant correlation of improved earnings for the quarter with achievement of targeted financial performance for the year. Accordingly, we take pleasure in reporting our ninth consecutive quarter of record sales and a strong start to our 2024 fiscal year,” stated a company spokesperson. “Despite a slight volume decrease, margins continued to improve as a result of price increases and easing of raw material price pressures. Gross profit per case increased and represents our seventh consecutive quarterly increase in margins per case.\n\n\n“Our brands resonate with consumers. LaCroix’s steadfast commitment to bring joy and good health with delicious flavors and distinctive packaging has resulted in long-term category leadership. Across our brand portfolio, we are focused on unique innovation, broader brand distribution and marketing and social media programs designed to increase household consumption, velocity, brand awareness and market share.\n\n\n“Innovation is boundless at National Beverage. Our loyal shareholders will soon receive an investor package containing an 8-pack of our top-selling LaCroix LimonCello, a consumer favorite, for their enjoyment. And . . . we are excited to reveal our newest flavors - Mojito and Sunshine! We will be launching these two new additions to the LaCroix sparkling water family in the coming months.\n\n\n“As we stated in our annual shareholder letter, we begin the new fiscal year with resolute enthusiasm and are optimistic that our entrepreneurial philosophy, brand equity and proven innovation will co...