Thu, Sep 5, 8:27 PM (131 days ago)
For the quarter ended July 27, 2024, National Beverage Corp. reported a 1.6% increase in net sales to $329.5 million, driven by a 0.7% rise in case volume and average selling price. Gross profit improved to $122.4 million, reflecting a decline in packaging costs and a gross margin increase to 37.2%. Selling, general, and administrative expenses rose to $52.9 million, primarily due to higher administrative and marketing costs. The company experienced a significant decrease in cash, down $250 million, largely attributed to a special cash dividend of $304.1 million paid on July 24, 2024. Operating cash flow fell to $57.5 million from $70.1 million, influenced by increased working capital. Working capital dropped to $145.7 million, and the current ratio decreased to 2.0, reflecting the dividend payment. The company remains in compliance with its debt covenants, maintaining $150 million in available credit facilities with no outstanding borrowings. Future operations may be impacted by fluctuating raw material costs and changing consumer preferences amidst ongoing market uncertainties.