National Beverage Corp. — Q1 2026 Earnings Summary

Financial Performance

• Net sales for the three months ended August 1, 2026, were $330.662 million, compared to $330.515 million in the same period of 2025.
• Gross margin was 35%, negatively impacted by elevated input costs, including aluminum commodity costs and tariffs which alone reduced gross margin by nearly 600 basis points.
• Net income for the quarter was $47.004 million, down from $55.760 million in the prior year period.
• Earnings per share (EPS) were $0.50 (basic and diluted), compared to $0.60 in the prior year.
• Cash on hand was $107 million following the payment of a $304 million special dividend ($3.25 per share) on July 30, 2026.
• Trailing twelve months ended August 1, 2026, net sales totaled $1.180699 billion and net income was $174.892 million.
• Trailing twelve months EPS was $1.87.

Business Segments and Product Lines

• The company highlighted the upcoming launch of a new LaCroix flavor, "PineApple CocoNut," described as a fusion of pineapple and coconut.
• The product portfolio includes healthier LaCroix Sparkling Water, priced-right carbonated soft drinks, and single-serve juice and drink products.
• The company noted that average selling price increases were largely offset by volume declines due to consumer sentiment and tariffs.

Management Commentary and Tone

• Management acknowledged that the quarter was negatively impacted by consumer sentiment, tariffs, higher packaging and ingredient costs, and increased fuel and freight expenses.
• In response to the current administration's request, the company elected to absorb a portion of tariff-related cost increases.
• Management expressed optimism regarding a rebound in orders during August and expects improving volume and mix to resume growth.
• The company emphasized a strategy of disciplined operational execution, innovation, and targeted marketing to drive demand.
• Management noted that the convergence of external pressures challenged their ability to respond as quickly as in the past.

Other Key Points

• The company paid a $3.25 per share special dividend, marking its thirteenth special cash dividend.
• Since the inception of the special dividend program, the company has distributed $19.78 per share, totaling over $1.8 billion to shareholders.
• The company maintains a balanced portfolio and a strong balance sheet as a foundation for long-term shareholder value.