Record Third Quarter Revenues on Growth in Velocity Reports National Beverage Corp.

Rhea-AI Summary

National Beverage Corp. (NASDAQ: FIZZ) reported a record third-quarter net sales of $259 million for the quarter ending January 29, 2022. The gross profit reached $94 million, marking the second highest in the company's history. Earnings per share were $.33, reflecting a challenging year with case volume slightly below last year but up by 6.4% compared to pre-pandemic levels. The company cited rising costs for packaging, ingredients, and transportation as factors for increased pricing, demonstrating its brand pricing power.

Positive

• Record third-quarter net sales of $259 million.
• Gross profit of $94 million, second highest in history.
• Case volume up 6.4% compared to pre-pandemic levels.
• Pricing per case increased 10.1% year-over-year.

Negative

• Case volume slightly below the previous year.

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- National Beverage Corp. (NASDAQ: FIZZ) today announced results for its third quarter ended January 29, 2022:

• Net sales were $259 million, a third-quarter sales record;
• Brand Pricing Power:
  • Pricing per case increased 10.1% compared to the prior year’s quarter and 6.1% on a trailing-twelve-month basis;
• Gross profit was $94 million for the third quarter, the second highest in our history; and
• Earnings per share was $.33

“Our results for the third quarter demonstrate the sustainability of healthy innovative brands with dynamic consumer appeal,” stated a company spokesperson. “By necessity, we have led the industry in increased pricing to recover rising packaging, ingredient and transportation costs. Case volume for the quarter was slightly below a year ago, but increased 6.4% compared to pre-pandemic levels. These times are stressful and some of us that gave this unique company its uniqueness are also expert at making lemonade . . . LimonCello!”

“Innovation and creativity are key at National Beverage, and we alone have continued to bring distinctive taste and stunning packaging to consumers from coast to coast. Our uniqueness is why our velocity per point of distribution exceeds major competitors. We recently announced our newest, innovative flavor – Cherry Blossom – representing freshness, splendor and delicate beauty. LaCroix Cherry Blossom will be available at select retailers nationwide later this month.”

“All-time inflation deterrents such as our iconic sodas, Shasta Mountain and Faygo Motown, have continuously proven themselves and have brand loyalty that is undeniable. LaCroix also has a new undeniable tagline – LaCroix . . . Our Difference Makes All The Difference!! Yes”, concluded a company spokesperson.

“Patriotism” – If Only We Could Bottle It!

National Beverage Corp.
Consolidated Results for the Periods Ended
January 29, 2022 and January 30, 2021
	(in thousands, except per share amounts)
	Three Months Ended						Nine Months Ended
	Jan. 29, 2022			Jan. 30, 2021			Jan. 29, 2022			Jan. 30, 2021
Net Sales	$	258,923		$	245,931		$	853,793		$	811,107
Net Income	$	31,068		$	36,687		$	124,168		$	135,015
Earnings Per Common Share
Basic	$	.33		$	.39		$	1.33		$	1.45
Diluted	$	.33		$	.39		$	1.33		$	1.44
Average Common Shares Outstanding
Basic		93,329			93,296			93,319			93,273
Diluted		93,611			93,610			93,608			93,624

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/20220310005735/en/

Office of the Chairman

Grace Keene

877-NBC-FIZZ

Source: National Beverage Corp.

FAQ

What were the net sales for National Beverage Corp. (FIZZ) in Q3 2022?

The net sales for National Beverage Corp. (FIZZ) in Q3 2022 were $259 million.

How much was the gross profit for National Beverage Corp. in Q3 2022?

The gross profit for National Beverage Corp. in Q3 2022 was $94 million.

What was the earnings per share (EPS) for FIZZ in Q3 2022?

The earnings per share (EPS) for National Beverage Corp. (FIZZ) in Q3 2022 was $.33.

How did the case volume compare to previous years for National Beverage Corp. (FIZZ)?

The case volume for National Beverage Corp. (FIZZ) was slightly below the previous year but up 6.4% compared to pre-pandemic levels.

What was the year-over-year pricing increase per case for FIZZ?

The pricing per case for National Beverage Corp. (FIZZ) increased by 10.1% compared to the prior year's quarter.