National Beverage Corp. Boasts Dividends and Results for Fiscal Year 2022

Rhea-AI Summary

National Beverage Corp. (NASDAQ: FIZZ) reported record net sales of $1.14 billion for the fiscal year ending April 30, 2022, marking a 6.1% increase. Gross profit reached $417.8 million with an operating income of $207.9 million. The earnings per share (EPS) stood at $1.70, the second highest ever. The company declared total cash dividends of $6.00 per share in 2022 and 2021. Despite challenges from COVID-19, brand LaCroix saw volume gains, and innovation continued with new flavors like LaCroix Cherry Blossom.

Positive

• Record net sales of $1.14 billion, up 6.1% year-over-year.
• Gross profit increased to $417.8 million.
• Operating income reached $207.9 million.
• Earnings per share (EPS) of $1.70, the second highest reported.
• Continued brand innovation with the launch of LaCroix Cherry Blossom.

Negative

• None.

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- National Beverage Corp. (NASDAQ: FIZZ) today announced results for its Fiscal Year ended April 30, 2022:

LaCroix Cherry Blossom - 'Dazzling Taste of Spring' Float! (Photo: Business Wire)

• Net sales grew 6.1% to $1.14 billion, the highest net sales in the company’s history,
• Gross profit was $417.8 million,
• Operating income was $207.9 million,
• Earnings per share was $1.70, the second highest EPS ever reported; and
• Cash dividends totaling $6.00 per share were paid during fiscal years 2022 and 2021.

“Our operating results for the year continue to reflect the unexpected and lasting effects of Covid 19. We feel confident that our purpose and diligence have allowed us to react to the untimeliness of these conditions, as evidenced by the slight increase in gross profit per case throughout this unprecedented volatility. We have also heightened our focus on our brands and consumers and were rewarded by brand LaCroix achieving volume gains despite excessive discounting by various competitors. We are fortunate to have retail partners that continuously give their support and brands that respond positively. Throughout this period, we have expanded our social media platform and continue to broaden its importance,” stated a Company spokesperson.

“Additionally, we continue to innovate with flavors and packaging. Following the successful launch of Beach Plum, Black Razzberry and Guava São Paulo in fiscal 2021, we introduced the unique flavor of LaCroix Cherry Blossom late in the fourth quarter of fiscal 2022. This launch featured social and outdoor media, spot radio, consumer sampling and attractive retail in-store displays. Cherry Blossom also dazzled onlookers at the iconic National Cherry Blossom Festival in Washington DC and was declared 2022 winner of the flavored water category by PEOPLE magazine. Praised for its fruity ‘lightly floral’ notes, one staffer declared ‘It’s like spring in a can’.”

“We remain focused on balancing margin management with sound growth and believe our proven brand portfolio positions us well for the new fiscal year. Our proven agility will allow us to adapt to future economic conditions in this time of unprecedented uncertainty and Opportunity, and continue to offer our shareholders a superior return on creativity,” concluded the spokesperson.

“Patriotism” – If Only We Could Bottle It!

National Beverage Corp.
Consolidated Results for the Fiscal Years Ended
April 30, 2022, May 1, 2021 and May 2, 2020
		(in thousands, except per share amounts)
		Fiscal Year Ended
		April 30, 2022			May 1, 2021			May 2, 2020*
Net Sales		$	1,138,013		$	1,072,210		$	1,000,394
Net Income		$	158,512		$	174,146		$	129,972
Earnings Per Common Share
Basic		$	1.70		$	1.87		$	1.39
Diluted		$	1.69		$	1.86		$	1.39
Avg. Common Shares Outstanding
Basic			93,323			93,280			93,256
Diluted			93,599			93,620			93,656
* Fiscal year 2020 consisted of 53 weeks; both Fiscal year 2022 and 2021 consisted of 52 weeks.
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks, uncertainties and other factors described in the Company's Securities and Exchange Commission filings which may cause actual results or achievements to differ from the results or achievements expressed or implied by such statements. The Company disclaims an obligation to update or announce revisions to any forward-looking statements.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20220629005708/en/

Office of the Chairman, Grace Keene

877-NBC-FIZZ

Source: National Beverage Corp.

FAQ

What were National Beverage Corp.'s net sales for the fiscal year ending April 30, 2022?

National Beverage Corp. reported net sales of $1.14 billion for the fiscal year ending April 30, 2022.

What was the earnings per share (EPS) for National Beverage Corp. for the fiscal year 2022?

The earnings per share (EPS) for National Beverage Corp. for the fiscal year 2022 was $1.70.

How did National Beverage Corp.'s gross profit change in fiscal 2022?

National Beverage Corp.'s gross profit increased to $417.8 million in fiscal 2022.

What new flavors did National Beverage Corp. introduce in fiscal 2022?

In fiscal 2022, National Beverage Corp. introduced the new flavor LaCroix Cherry Blossom.

What cash dividends did National Beverage Corp. pay during fiscal years 2022 and 2021?

National Beverage Corp. paid total cash dividends of $6.00 per share during fiscal years 2022 and 2021.