National Beverage Q1 net sales hit record $324 million; EPS up 39% to $0.53
National Beverage reported fiscal first-quarter results for the period ended July 29, 2023, with net sales rising to a record $324 million and net income reaching $49.6 million, up from $35.5 million a year earlier. Management said margins improved on price increases and easing raw material costs, despite a slight volume decrease, and that the quarter has historically been a preview of the full fiscal year.
- Net sales increased to $324 million, a record, from $318 million in the prior-year quarter.
- Operating profit rose 36% to $63 million; diluted EPS rose 39% to $0.53 from $0.38.
- Cash generated by operations increased $30 million to $70 million.
- Management cited a slight volume decrease and a seventh consecutive quarterly increase in gross profit per case.