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National Beverage Corp. (FIZZ-1.19%) has submitted its 10-Q filing for the quarterly period ended January 25, 2025.
The filing includes financial statements for the quarter, showing a decrease in net sales to $267.1 million from $270.1 million in the same quarter the previous year. This decrease is attributed to a reduction in case volume, partially offset by an increase in average selling price per case.
Gross profit for the quarter increased to $99.0 million from $97.0 million in the previous year, driven by higher average selling prices and lower packaging costs. The gross margin rose to 37.1% from 35.9%.
Selling, general, and administrative expenses decreased slightly to $48.4 million from $48.9 million, primarily due to reduced marketing and selling costs. The expenses remained constant at 18.1% of net sales.
Net income for the quarter was $39.6 million, compared to $39.6 million in the previous year. The effective income tax rate was 23.7%, up from 21.0% in the previous year.
For the first nine months of fiscal 2025, net sales decreased to $887.7 million from $894.4 million in the previous year, with a decline in case volume offset by higher selling prices.
Gross profit for the nine-month period increased to $330.7 million from $319.4 million, with a gross margin of 37.3% compared to 35.7% in the previous year.
Selling, general, and administrative expenses for the nine-month period decreased to $152.8 million from $153.8 million, with a constant percentage of net sales at 17.2%.
Net cash provided by operating activities for the first nine months was $146.6 million, compared to $137.5 million in the previous year. The decrease in cash position was primarily due to a special cash dividend of $304.1 million.
The company's working capital decreased to $233.0 million from $398.9 million, with a current ratio of 2.9 to 1, down from 3.9 to 1. This was primarily due to the special dividend payment.
National Beverage Corp. maintains unsecured credit facilities totaling $150 million, with no borrowings outstanding. The company believes its existing capital resources will be sufficient to meet liquidity and capital requirements for the next twelve months.
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 March 6, 2025. To report an error, please email earnings@qz.com.