The following is a summary of the Lifeway Foods, Inc. (LWAY) Q1 2024 Earnings Call Transcript:
Financial Performance:
Lifeway Foods reported Q1 net sales of $44.6 million, a 17.8% increase year over year.
The gross profit margin increased to 25.8% from 21.7% in Q1 2023.
Net income for the period was $2.4 million, equating to an EPS of $0.17 per basic and $0.16 per diluted common share.
Capital spending was up to $2.5 million to support continued growth.
Business Progress:
Sales of the company's drinkable kefir rose by 22.6% to $36.5 million.
The company introduced new product innovations like guava low-fat kefir and organic whole milk products.
The distribution channels were expanded, including gaining limited rotation for twin pack of 32-ounce kefir at two major club stores.
Lifeway continues to maintain strong partnerships and seek new distribution opportunities.
More details: Lifeway Foods IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.