National Beverage Corp. (NASDAQ: FIZZ) has just reported its fourth quarter and fiscal year-end results for the period ended April 27, 2024. The company's net sales in the fourth quarter increased by $11 million to $297 million compared to the prior year. Additionally, gross margins grew by 100 basis points to 36.7% of sales, and net income surged by 20% to $44 million, or $0.47 per share.
For the fiscal year, National Beverage Corp. saw net sales increase by $19 million to $1.2 billion. Operating profits also grew by 240 basis points to $218 million, and net income rose by 24% to $177 million, or $1.89 per share. Furthermore, the company's cash position strengthened, increasing by $169 million to $327 million.
The company's overall case volume experienced a 5% growth, with net sales, operating profit, and net income setting fourth-quarter records. National Beverage Corp. attributes this growth to the success of its brands, particularly Lacriox and Rip It. The company emphasized that innovative flavors and packaging have been key drivers of brand growth, with products like the latest Lacriox offering, "mojito," and the new Rip It energy fuel flavors receiving enthusiastic reception from consumers and retailers.
The company's management expressed optimism for the future, highlighting the backlog of innovative ideas and the positive momentum generated by record revenues and year-over-year income growth over the past six quarters.
As a result of these announcements, the company's shares have moved 15.0% on the market, and are now trading at a price of $50.75. For the full picture, make sure to review National Beverage's 8-K report.
