National Beverage Corp. reported Q2 net sales of $288.3 million, a 1.0% decrease from the prior year. Despite the sales dip, net income increased 1.6% year-over-year to $46.4 million, or $0.50 per share. Management attributed the lower sales to macroeconomic pressures on consumer spending, while noting that profitability improved due to favorable price and product mix.
Key Highlights
- Quarterly net sales declined 1.0% to $288.3 million from $291.2 million in the prior-year period.
- Net income rose 1.6% to $46.4 million, and basic EPS increased to $0.50 from $0.49, which the company credits to price/mix improvements.
- Over the trailing twelve months, the company's cash balance increased by $156 million to a total of $269 million.