Wed, Jun 26, 9:22 PM (73 days ago)
National Beverage Corp. (FIZZ) reported a 1.6% increase in net sales for the fiscal year ending April 27, 2024, reaching $1,191.7 million. Gross profit rose to $428.5 million, driven by a 1.8% increase in average selling price per case and a decline in packaging costs. Operating income was $218.5 million, up from $186.7 million the previous year. Selling, general, and administrative expenses slightly decreased to $209.9 million. Net income grew to $176.7 million, resulting in earnings per share of $1.89. The company maintained $327.0 million in cash and cash equivalents and had no outstanding borrowings under its $150 million revolving credit facilities. A special cash dividend of $3.25 per share was declared, payable by July 24, 2024. The company identified and is addressing a material weakness in internal controls over its cash flow statement.