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National Beverage Corp. (FIZZ) has submitted its 10-Q filing for the quarterly period ended October 26, 2024.
The filing includes financial statements for the quarter, showing a decrease in net sales to $291.2 million from $300.1 million in the same quarter the previous year. The decrease is attributed to a 4.6% decline in case volume, partially offset by a 2.2% increase in average selling price per case.
Gross profit for the quarter increased to $109.4 million from $107.9 million in the previous year, primarily due to a decline in packaging costs and an increase in average selling price per case.
Selling, general, and administrative expenses decreased to $51.5 million from $53.6 million, primarily due to reduced marketing and shipping costs.
Net income for the quarter was $45.6 million, up from $43.8 million in the previous year. Basic and diluted earnings per share were both $0.49.
Cash and cash equivalents decreased to $112.8 million from $327.0 million at the beginning of the period, primarily due to a special cash dividend payment of $304.1 million.
The company reported a working capital of $196.8 million as of October 26, 2024. The decrease in working capital was attributed to the special dividend payment.
The filing also details the company's liquidity and capital resources, indicating that existing capital resources are expected to be sufficient to meet liquidity and capital requirements for the next twelve months.
The company maintains unsecured credit facilities totaling $150 million, with no borrowings outstanding as of the end of the reporting period.
There have been no material changes in market risks or risk factors since the last annual report.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the National Beverage Corp. quarterly 10-Q report dated December 5, 2024. To report an error, please email earnings@qz.com.