first quarter
Filed Sep 11, 2026NATIONAL BEVERAGE CORP. REPORTS FIRST QUARTER EARNINGS
Net sales were $330,662 (in thousands) versus $330,515 (in thousands), while net income was $47,004 (in thousands) versus $55,760 (in thousands) and gross margin was 35% amid elevated input costs. The company cited an August rebound in orders, recently instituted pricing actions, and a $3.25 per share special dividend.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net sales, three fiscal months ended August 1, 2026GAAP | $330,662 (in thousands) | – | – |
| Gross margin, three fiscal months ended August 1, 2026GAAP | 35% | – | – |
| Net income, three fiscal months ended August 1, 2026GAAP | $47,004 (in thousands) | – | – |
| Basic earnings per common share, three fiscal months ended August 1, 2026GAAP | $.50 | – | – |
| Diluted earnings per common share, three fiscal months ended August 1, 2026GAAP | $.50 | – | – |
| Average common shares outstanding, basic, three fiscal months ended August 1, 2026GAAP | 93,613 (in thousands) | – | – |
| Average common shares outstanding, diluted, three fiscal months ended August 1, 2026GAAP | 93,660 (in thousands) | – | – |
| Net sales, trailing twelve fiscal months ended August 1, 2026GAAP | $1,180,699 (in thousands) | – | – |
| Net income, trailing twelve fiscal months ended August 1, 2026GAAP | $174,892 (in thousands) | – | – |
| Basic earnings per common share, trailing twelve fiscal months ended August 1, 2026GAAP | $1.87 | – | – |
| Diluted earnings per common share, trailing twelve fiscal months ended August 1, 2026GAAP | $1.87 | – | – |
| Average common shares outstanding, basic, trailing twelve fiscal months ended August 1, 2026GAAP | 93,615 (in thousands) | – | – |
| Average common shares outstanding, diluted, trailing twelve fiscal months ended August 1, 2026GAAP | 93,663 (in thousands) | – | – |
Capital returns
- Paid a $304 million special dividend ($3.25 per share) on July 30, 2026.
- The first quarter special dividend of $3.25 per share represented the thirteenth special cash dividend.
- Special cash dividends have distributed $19.78 per share or over $1.8 billion to shareholders.
What drove it
- Average selling price increases were largely offset by volume declines.
- The company cited a rebound in orders during August.
- Recently instituted pricing actions and disciplined operating focus are intended to improve performance.
- Innovation, including the PineApple CocoNut LaCroix flavor, was cited as a source of incremental demand and expanded consumption occasions.
Concerns
- Consumer sentiment and tariffs negatively impacted first-quarter net sales.
- Gross margin was 35%, reflecting elevated input costs.
- Aluminum costs alone negatively impacted gross margin by almost 600 basis points.
- Higher packaging and ingredient costs, elevated aluminum commodity costs and tariffs affected gross profit.
- Increases in fuel and freight pressured inbound and outbound shipping expenses.
- The company elected to absorb a portion of tariff-related cost increases and stated that market conditions remain soft.
What to watch
- Whether the August rebound in orders continues.
- Volume/mix trends following the company's pricing actions.
- Aluminum commodity costs, tariffs, packaging and ingredient costs.
- Fuel and freight expense pressure.
- Gross-margin performance as the company responds to external cost pressures.
Balance sheet and cash flow
- Cash was $107 million after the payment of a $304 million special dividend ($3.25 per share) on July 30, 2026.
Analysis
National Beverage reported first-quarter net sales of $330,662 (in thousands), compared with $330,515 (in thousands) in the prior-year period. The company said consumer sentiment and tariffs negatively affected sales because average selling price increases were largely offset by volume declines. Management nevertheless cited a rebound in orders during August and stated that it expects improving volume/mix to resume growth.
Profitability was under material pressure. Gross margin was 35%, and net income was $47,004 (in thousands), compared with $55,760 (in thousands). Basic and diluted earnings per common share were each $.50, compared with $.60 for each measure. The company attributed gross-profit pressure to higher packaging and ingredient costs, elevated aluminum commodity costs and tariffs, as well as fuel and freight costs. It said aluminum costs alone negatively impacted gross margin by almost 600 basis points.
The company described pricing actions as recently instituted and said it has elected to absorb a portion of tariff-related cost increases. Its operating response centers on pricing, disciplined execution, targeted marketing, merchandising and innovation. PineApple CocoNut was identified as the newest LaCroix flavor and as a consumer favorite from the summer advertising campaign.
Capital allocation was prominent in the release. Cash was $107 million after payment of a $304 million special dividend, or $3.25 per share, on July 30, 2026. The company said this was its thirteenth special cash dividend and that these dividends have distributed $19.78 per share or over $1.8 billion to shareholders. No formal forward financial guidance was provided, leaving order momentum, volume/mix, commodity and tariff costs, and the response to pricing as the principal reported items to monitor.
Not in the filing
stated, not guessed- Segment revenue and segment profitability were not reported.
- Operating income, operating margin and operating expenses were not reported.
- Gross profit was not reported.
- Prior-year and prior-quarter gross margin were not reported.
- Prior-quarter financial comparisons were not reported.
- Operating cash flow, free cash flow, capital expenditures and debt were not reported.
- Share repurchases and regular dividends were not reported.
- Forward revenue, gross-margin, operating-expense and tax-rate guidance were not reported.
- Non-GAAP financial measures were not reported.
- Named executive quotes were not provided.
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.