Vending

National Beverage Corp posts record 2022 sales despite COVID

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July 6, 2022

National Beverage Corp. reported record sales of $1.14 billion for fiscal 2022 despite lasting impacts of COVID-19, according to an earnings report. Highlights include:

• Net sales jumped 6.1% from $1.07 billion in fiscal 2021 to $1.14 billion for the fiscal year ending April 30, 2022, a company record.
• Net income rose from $174.15 million to $158.5 million in the comparative years.
• Earnings per share fell from $1.87 to $1.70 on a basic basis and from $1.86 to $1.69 on a diluted basis.
• The company paid $6 per share in cash dividends for both fiscal 2021 and 2022.

Shares traded at $50.99 today against a 52-week range of $38.10 to $64.67.

The $1.14 billion in yearly revenue was in line with analyst expectations, while the GAAP EPS of $1.69 missed expectations by 7 cents, according to Seeking Alpha.

"Our operating results for the year continue to reflect the unexpected and lasting effects of COVID-19," an unnamed company spokesperson said in the press release. "We have also heightened our focus on our brands and consumers and were rewarded by brand LaCroix achieving volume gains despite excessive discounting by various competitors."

For an update on how the coronavirus pandemic is affecting convenience services, click here.