FORT LAUDERDALE, Fla. - National Beverage Corp. (NASDAQ:FIZZ), the maker of the popular LaCroix sparkling water, reported a slight beat on its third-quarter earnings, with a per-share profit of $0.42, just $0.01 above the analyst consensus of $0.41.
Revenue for the quarter reached $270 million, narrowly missing the consensus estimate of $271.15 million. Despite the revenue miss, shares of National Beverage saw a modest increase of 0.99% as the market responded positively to the earnings beat.
The company's net sales rose from the same quarter last year, marking the eleventh consecutive quarter of record sales. Gross profit also hit an all-time high of $97 million, with a gross profit margin increase to 36% of sales. Operating income grew to $48 million, representing a 120 basis points margin improvement. The earnings per share saw a 14% increase from the previous year.
National Beverage's performance was attributed to its continued focus on innovation and health-conscious strategies. The launch of the new LaCroix flavor, Mojito, and the brand's recognition as one of The Most Trusted Brands in America by Newsweek were highlighted as key achievements.
In a statement, a company spokesperson expressed confidence in the sustainability of National Beverage's growth, linking it to the public's increasing health consciousness. The spokesperson also reiterated the company's commitment to strong financial practices, including maintaining healthy cash flows and prioritizing shareholder returns without resorting to stock buybacks.
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