Trailing Twelve Months and This Exceptional First Quarter Indicate Continuing Momentum Reports National Beverage Corp.

Rhea-AI Summary

National Beverage Corp. (NASDAQ: FIZZ) reported net sales of $311.7 million for the first quarter ended July 31, 2021, a notable increase from $293.4 million the previous year. The gross profit reached $124.8 million, maintaining a 40% gross margin. Operating income was $70.3 million, or 22.6% of sales. Earnings per share rose to $.58, up from $.55. The company highlighted ongoing challenges due to labor and material shortages but reported strong consumer loyalty and growth in its Power+ brand.

Positive

• Net sales increased to $311.7 million, a year-over-year rise.
• Gross profit reached $124.8 million with a stable 40% gross margin.
• Operating income was $70.3 million, representing 22.6% of sales.
• Earnings per share grew to $0.58, up from $0.55 in the prior year.
• Power+ brand volume grew 5.6% despite price adjustments.

Negative

• Labor, raw material, and transportation availability issues impacted ability to meet customer demand.

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- National Beverage Corp. (NASDAQ: FIZZ) today announced results for its first quarter ended July 31, 2021.

First Quarter Ended July 31, 2021 vs. First Quarter Ended August 1, 2020:

• Net sales increased to $311.7 million;
• Gross profit was $124.8 million;
  • Gross margin was 40%;
• Operating income was $70.3 million or 22.6% of sales; and
• Earnings per share was $.58, up from $.55 for the prior year.

Balance Sheet Data at July 31, 2021

• Cash was $245.5 million;
• Working capital was $269.7 million with a current ratio of 2.8 to 1.

“Considering the headwinds that we faced, our financial results for the first quarter reflect extraordinary execution by Team National. Although labor, raw material and transportation availability issues impacted our ability to meet customer demand, we were able to increase sales over last year’s pantry-loading spike while maintaining the margins posted for our previous ‘best ever’ quarter,” stated a company spokesperson.

We believe the following are some of the competitive advantages that National Beverage enjoys:

• Consumer loyalty – Our Power+ brand volume grew 5.6% during a quarter in which selling prices were adjusted to recover increased input and transportation costs. We believe this reflects the preference consumers have for our great-tasting beverages, especially in light of the substantial price discounting employed by certain competitors to promote their sparkling waters.

• Healthy Hydration – The majority of our revenues are generated by sparkling water, juices and other ‘better-for-you’ beverages. The pandemic has made consumers even more health-conscious, and we believe this trend will continue for the foreseeable future.

• Innovation – The launch late last fiscal year of our unique new LaCroix flavors of Beach Plum, Black Razzberry and Guava São Paulo was our most successful to date. These followed a string of successful introductions that evidence our ability to develop and refine beverages that continuously resonate with consumers.

• Distinctiveness - The pandemic and its adaptations are provoking the minds of everyone who use their mental capacity to eschew risk. Our owner-entrepreneur governance model, size and agility, plus our self-manufacturing and hybrid-distribution system allow us to pivot expeditiously. Couple this uniqueness with our passionate consumer seeking to satisfy an acquired taste while pursuing unparalleled feelings.

“As the U.S. deals with uncertainty while Covid cases are increasing, we are more determined than ever in our mission to help make America healthy. Fiscal 2022 brings unique opportunities for National Beverage as we continue our vow to create the best and healthiest beverages ever produced,” the spokesperson concluded.

LaCroix . . . Beyond Taste!

In honor of all those who guard our freedoms throughout the world . . .

“Patriotism” – If Only We Could Bottle It!

National Beverage Corp.
Consolidated Results for the Periods Ended
July 31, 2021 and August 1, 2020
		(in thousands, except per share amounts)
		Three Months Ended
		July 31, 2021			August 1, 2020
Net Sales		$	311,712		$	293,367
Net Income		$	53,816		$	51,164
Earnings Per Common Share
Basic		$	.58		$	.55
Diluted		$	.58		$	.55
Average Common Shares Outstanding
Basic			93,306			93,248
Diluted			93,574			93,508

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/20210909006027/en/

Office of the Chairman

Grace Keene

877-NBC-FIZZ

Source: National Beverage Corp.

FAQ

What were National Beverage's Q1 2021 financial results?

National Beverage reported net sales of $311.7 million, a gross profit of $124.8 million, and earnings per share of $0.58 for Q1 2021.

How did National Beverage's net sales compare to last year?

Net sales for the first quarter increased from $293.4 million in the previous year to $311.7 million this year.

What challenges did National Beverage face in Q1 2021?

The company faced challenges related to labor shortages, raw material availability, and transportation issues affecting customer demand.

How did the Power+ brand perform in Q1 2021?

The Power+ brand volume increased by 5.6% during the quarter.

What is National Beverage's stock symbol?

The stock symbol for National Beverage Corp. is FIZZ.