National Beverage Corporation ( NASDAQ: FIZZ ) stock was among the largest decliners in the beverage sector on Friday after posting misses on top and bottom lines on Thursday evening.
The Florida-based beverage company reported $0.38 and $318.12M in EPS and revenue, respectively, for its fiscal first quarter, coming up short of analyst expectations. The former was also noted as a significant year over year decline. “A company’s principal fiduciary purpose is to not only protect shareholder investment; its ultimate goal is to create long-term enterprise value,” a company spokesperson commented. The company said that goal is presently being compromised by factors never before witnessed.
Shares of FIZZ declined over 6% to $45.34 at an intraday low before rebounding slightly.
Nonetheless, the company remained optimistic that “the grass is turning greener” and margins will become more manageable moving forward.
“We are committed to strengthening our focus to create long-term brand equity by upholding marketplace price discipline while remaining focused on managing margins and cash flows,” the company statement concluded. “We continue to believe that this philosophy, together with our innovative strengths, have positioned National Beverage ( FIZZ ) for long-term success and the ability to create appreciable shareholder value.”
Dig into the details of the earnings report.
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National Beverage Corporation stock fizzles after earnings fall flat