false 0000069891 0000069891 2023-12-07 2023-12-07
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
 
FORM 8-K
 
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
 
Date of report (Date of earliest event reported):     December 7, 2023
 
National Beverage Corp.
(Exact Name of Registrant as Specified in Its Charter)
 
Delaware
(State or Other Jurisdiction of Incorporation)
 
1-14170 59-2605822
(Commission File Number)  (IRS Employer Identification No.)
 
                   
 
8100 SW Tenth Street, Suite 4000
Fort Lauderdale, Florida
 33324
(Address of Principal Executive Offices) (Zip Code)
        
(954) 581-0922
(Registrant’s Telephone Number, Including Area Code)
 
(Former Name or Former Address, if Changed Since Last Report)
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each Class Trading Symbol Name of each exchange on which registered
Common Stock, par value $.01 per share FIZZ The NASDAQ Global Select Market
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
 
Emerging growth company ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 
 
 
 
Item 2.02 Results of Operations and Financial Condition
 
On December 7, 2023, National Beverage Corp. (the “Company”) issued a press release announcing financial results for the three and six-month periods ended October 28, 2023. The information in Item 2.02 of this report, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act.
 
Item 9.01 Financial Statements and Exhibits
 
(d) Exhibit 99.1
     
  Exhibit 104 Cover Page Interactive Data File (formatted as Inline XBRL)
 
         
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
National Beverage Corp.
(Registrant)
 
 
By: /s/ George R. Bracken
   George R. Bracken
   Executive Vice President – Finance
   (Principal Financial Officer)
 
 
 
Date: December 8, 2023
 
 
 
EXHIBIT INDEX
 
99.1
Press release dated December 7, 2023 announcing the Company’s financial results for the three and six-month periods ended October 28, 2023.
 
104
Cover Page Interactive Data File (formatted as Inline XBRL)
 
 

Exhibit 99.1

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NASDAQ: FIZZ

For Immediate Release

Contact: Office of the Chairman, Grace Keene

 

NATIONAL BEVERAGE CORP.

REPORTS RECORD REVENUES

AND DOUBLE-DIGIT EARNINGS GROWTH

 

 

FORT LAUDERDALE, FL, December 7, 2023 . . . National Beverage Corp. (NASDAQ: FIZZ) today announced results for its second quarter and six months ended October 28, 2023. Compared to the prior year-

 

Second Quarter:

 

 

●

Net sales increased to a record $300 million,

 

 

●

Gross margin improved 250 bps to 36% of net sales; and

 

 

●

Earnings per share increased 21% to $.47.

 

Six Months:

 

 

●

Net sales increased to a first-half record of $624 million,

 

 

●

Operating income grew 26% to $117 million,

 

 

●

Net income increased $22 million to $93 million, or $1.00 per share; and

 

 

●

Cash increased $90 million to $248 million.

 

“We are pleased to report our tenth consecutive quarter of record sales and another quarter of strong earnings growth and improved operating margins. This performance is attributable to selective selling price adjustments, more stable raw material costs and a continuing focus on operational efficiency, which more than offset the effects of a modest volume decline and increased marketing investments,” stated a company spokesperson.

 

 

 

 

-more-

 

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National Beverage Corp.

Page 2

 

“Our focus remains on brand growth, innovative flavors, Zero Sugar introductions and unique new LaCroix flavors. This includes expanding our merchandising teams (MerchMx) to new cities as well as adding additional in-store sampling ambassadors (BrandEd). These in-store teams complement our marketing plan which utilizes social media, consumer events, influencers, team sports sponsorships, digital marketing and podcast funding to enhance brand awareness. While we are monitoring the changes in consumer shopping habits and purchasing power that are affecting all consumer products, we are optimistic that our expanded consumer outreach will have a positive impact on our market share.”

 

“We continue to innovate in all aspects of our business as we strive to provide retailers and consumers with the most distinctive flavors and packaging in the industry. Two of our LaCroix distinctive variety packs, as well as Zero Sugar Shasta and the three newest flavors of Rip It, were recently honored as recipients of the International Davey Awards for creativity.”

 

“At this most special time of year, we wish to express our gratitude for our loyal consumers, retail partners, shareholders, and all of Team National. May this holiday season bring all the most special blessings of peace and joy!” the spokesperson concluded.

 

 

 

 

 

 

 

 

 

 

“Patriotism” – If Only We Could Bottle It!

 

 

 

 

 

 

-more-

 

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National Beverage Corp.

Page 3

 

National Beverage Corp.

Consolidated Results for the Periods Ended

October 28, 2023 and October 29, 2022 

 

 

   

(in thousands, except per share amounts)

  
    Three Months Ended     Six Months Ended  
   

Oct. 28, 2023

    

Oct. 29, 2022

    

Oct. 28, 2023

    

Oct. 29, 2022

  
                                 

Net Sales

   $ 300,074     $ 299,633     $ 624,314     $ 617,750  
                                 

Net Income

   $ 43,788     $ 36,046     $ 93,419     $ 71,500  
                                 

Earnings Per Common Share

                                

Basic

   $ .47     $ .39     $ 1.00     $ .77  

Diluted

   $ .47     $ .39     $ 1.00     $ .76  
                                 

Average Common Shares Outstanding

                                

Basic

     93,360       93,344       93,357       93,341  

Diluted

     93,604       93,602       93,607       93,601  

 

 

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks, uncertainties and other factors described in the Company's Securities and Exchange Commission filings which may cause actual results or achievements to differ from the results or achievements expressed or implied by such statements. The Company disclaims an obligation to update or announce revisions to any forward-looking statements.

 

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v3.23.3
Document And Entity Information
Dec. 07, 2023
Document Information [Line Items]  
Entity, Registrant Name National Beverage Corp.
Document, Type 8-K
Document, Period End Date Dec. 07, 2023
Entity, Incorporation, State or Country Code DE
Entity, File Number 1-14170
Entity, Tax Identification Number 59-2605822
Entity, Address, Address Line One 8100 SW Tenth Street, Suite 4000
Entity, Address, City or Town Fort Lauderdale
Entity, Address, State or Province FL
Entity, Address, Postal Zip Code 33324
City Area Code 954
Local Phone Number 581-0922
Title of 12(b) Security Common Stock
Trading Symbol FIZZ
Security Exchange Name NASDAQ
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity, Emerging Growth Company false
Amendment Flag false
Entity, Central Index Key 0000069891
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