National Beverage Corp. Reports 1.6% Increase in Net Sales

National Beverage Corp. has recently released its 10-K report, providing a detailed look into its operations and financial performance. The company, incorporated in Delaware and trading as a public company on the NASDAQ Stock Market since 1991, is a leading producer and distributor of a diverse portfolio of beverages, including sparkling waters, juices, energy drinks, and carbonated soft drinks primarily in the United States and Canada. The company's brands include LaCroix, Clear Fruit, Rip It, Everfresh, Shasta, and Faygo, catering to health-conscious consumers and emphasizing unique flavor development and variety throughout its brands.

In the fiscal year 2024, National Beverage Corp. reported net sales of $1,191.7 million, representing a 1.6% increase from the previous year. This increase was driven by a 1.8% rise in average selling price per case, partially offset by a 0.2% decline in case volume. The company's gross profit for fiscal 2024 increased to $428.5 million, up from $396.8 million in fiscal 2023, primarily due to the increased average selling price per case and a decline in packaging costs. The gross margin also improved to 36.0% compared to 33.8% in the previous fiscal year.

Selling, general and administrative expenses for fiscal 2024 decreased slightly to $209.9 million from $210.1 million in fiscal 2023, with a decrease in shipping costs partially offset by an increase in marketing and selling costs. The company's liquidity and capital resources remained strong, with $327.0 million in cash and cash equivalents at the end of fiscal 2024 and unsecured revolving credit facilities totaling $150 million, under which no borrowings were outstanding.

National Beverage Corp. also highlighted its commitment to innovation and growth, with a focus on developing healthier beverages and tailoring its portfolio to the preferences of a diverse mix of consumers. The company's operating results are affected by various factors, including fluctuations in the costs of raw materials, supply chain disruptions, and seasonal variations in beverage sales volume.

Looking ahead, the company intends to continue capital projects to expand capacity, enhance sustainability, and improve efficiencies at its production facilities. National Beverage Corp. also emphasized its commitment to maintaining a strong financial position, with a current ratio of 3.9 to 1 at the end of fiscal 2024 compared to 2.5 to 1 in the previous fiscal year. The company did not report any off-balance sheet arrangements that would have a material effect on its financial condition. The market has reacted to these announcements by moving the company's shares -1.7% to a price of $44.12. Check out the company's full 10-K submission here.

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