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National Beverage (FIZZ) investor relations material

National Beverage Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary12 Dec, 2025

Executive summary

  • Net sales for Q2 FY26 decreased 1.0% year-over-year to $288.3 million, driven by a 6.0% decline in case volume, partially offset by a 5.3% increase in average selling price per case.

  • Operating income for Q2 FY26 was $58.0 million, up marginally from $57.9 million year-over-year.

  • Net income for the quarter was $46.4 million, up slightly from $45.6 million in the prior year.

  • Cash and cash equivalents increased to $269.3 million as of November 1, 2025, from $193.8 million at the start of the period, with a $156 million increase over the trailing twelve months.

  • Fundamentals remain strong, supported by unique brands, retailer relationships, and consumer loyalty.

Financial highlights

  • Gross profit was $109.2 million, with gross margin rising to 37.9% from 37.6% due to higher selling prices, despite increased costs and lower volume.

  • Diluted EPS for the quarter was $0.49, unchanged from the prior year; basic EPS was $0.50.

  • Trailing twelve-month net sales reached $1.2 billion, with EBITDA up 63 basis points to $258 million and EPS at $1.99.

  • Working capital rose to $376.7 million, with a current ratio of 4.3:1.

  • No debt outstanding under $150 million in credit facilities.

Outlook and guidance

  • Management expects capital expenditures for FY26 to not exceed FY25 levels.

  • Existing capital resources are considered sufficient to meet liquidity and capital requirements for the next twelve months.

  • Management notes resilience despite inflation, commodity costs, tariffs, and a federal government shutdown impacting consumer behavior.

  • New LaCroix Pineapple Coconut flavor to launch in early 2026, aiming to leverage health and wellness trends.

Outlook for case volume trends?
Why did operating cash flow decrease?
Quantify future aluminum hedge benefits.
Price/mix impact on Q2 operating income?
Average price for Q2 share repurchases?
How will new LaCroix flavor counter market trends?
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Frequently asked questions

National Beverage Corp is a developer, producer, marketer, and seller of a diverse range of beverages. Its product portfolio includes sparkling waters, juices, energy drinks, and carbonated soft drinks, catering primarily to the consumer market in the United States and Canada. The company's flagship Power+ brand portfolio features notable brands such as LaCroix, LaCroix Cúrate, and LaCroix NiCola sparkling waters; Clear Fruit non-carbonated flavored water; Rip It energy drinks; and traditional carbonated soft drinks under the Shasta and Faygo brands. The company is headquartered in Fort Lauderdale, Florida, and its shares are listed on the Nasdaq.

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