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Zevia(ZVIA) - 2024 Q2 - Earnings Call Presentation
2024-08-07 17:36
ZEVIA Q2 2024 FINANCIAL RESULTS AT FORWARD-LOOKING STATEMENTS This presentation and the related earnings press release contain "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as "anticipate," "believe," "consider," "contemplate," "c ...
Zevia(ZVIA) - 2024 Q2 - Earnings Call Transcript
2024-08-07 17:14
Financial Data and Key Metrics Changes - In Q2 2024, net sales reached $40.4 million, slightly above the top-end of guidance, but down 4.3% year-over-year [18] - Volume decreased by 5.9%, reflecting challenges in on-shelf distribution, partially offset by a price increase contributing $2.4 million [18] - Gross margin was 41.9%, down 4.7 percentage points from the previous year, impacted by a €1.8 million charge related to excess inventory [16][18] - Net loss increased to $7 million compared to a net loss of $5 million last year, with adjusted EBITDA loss at $4.4 million [19] Business Line Data and Key Metrics Changes - Strong performance in the food channel, with 16% growth over 12 weeks and 20% growth over the last 4-week period [9] - New product launches, including Cran-Raspberry, are expected to drive incremental growth [8][15] - The company implemented a 4.5% price increase on soda multipacks, which was well-received by retailers and consumers [9] Market Data and Key Metrics Changes - Zevia soda scan dollars were up 6% for the 12 weeks ending July 14, with units up 2% [8] - Retail sales growth accelerated, with dollars closing at +10% and units at +11% in the latest 4-week period, marking the highest retail sales month in Zevia's history [8] - The company is seeing promising growth in strategic channels, particularly in food, which outpaced the broader Carbonated Soft Drinks category [9][23] Company Strategy and Development Direction - The company is focused on enhancing brand visibility and expanding distribution through direct-store delivery (DSD) initiatives [10][14] - A productivity initiative aims for annualized savings of $12 million, targeting brand maximization, margin enhancement, and operational discipline [12][13] - The strategic focus includes increasing marketing investments to drive consumer awareness and trial packages to expand the user base [10][28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about retail sales growth despite challenges in club distribution, expecting improvements in Q4 [32] - The promotional environment is competitive, with increased promotional spending planned to drive in-store activity [35] - Management anticipates a return to mid-40s gross margins in Q3, with sequential improvements expected [21][41] Other Important Information - The company ended the quarter with approximately $29 million in cash and cash equivalents, alongside an undrawn revolving credit line of $20 million [19] - The company is committed to maintaining a right-sized inventory level, targeting around 90 days of inventory on hand [45] Q&A Session Summary Question: Impact of club distribution losses - Management acknowledged regional losses in club distribution but noted strong retail scan data and overall healthy retail performance [26] Question: Strategies for reaching new consumers without club visibility - The focus is on expanding singles distribution to drive trial packages in various channels, including mainstream grocery and convenience [28] Question: Clarification on Q3 revenue guidance - Management explained that Q3 guidance reflects temporary distribution challenges and a focus on optimizing the product portfolio [32][33] Question: Promotional environment insights - The promotional environment is competitive, with deeper promotions observed, but the company plans to increase promotional investments to drive growth [35] Question: Marketing efficacy and metro outperformance - Marketing campaigns across multiple markets have shown a 3 percentage point improvement in revenue, indicating effective strategic planning [39] Question: Future gross margin potential - Management expects to maintain mid-40s gross margins while reinvesting in promotional activities and expanding the DSD network [41] Question: Inventory management going forward - The company aims to maintain inventory levels close to current levels while managing working capital effectively [45]
Zevia (ZVIA) Reports Q2 Loss, Tops Revenue Estimates
ZACKS· 2024-08-07 13:31
Company Performance - Zevia reported a quarterly loss of $0.09 per share, better than the Zacks Consensus Estimate of a loss of $0.13, and compared to a loss of $0.08 per share a year ago, indicating an earnings surprise of 30.77% [1] - The company posted revenues of $40.43 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 2.13%, but down from $42.24 million in the same quarter last year [2] - Over the last four quarters, Zevia has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Stock Performance - Zevia shares have declined approximately 55.2% since the beginning of the year, contrasting with the S&P 500's gain of 9.9% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.10 on revenues of $44.85 million, and for the current fiscal year, it is -$0.37 on revenues of $163.17 million [7] Industry Outlook - The Medical - Products industry, to which Zevia belongs, is currently ranked in the top 42% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Zevia's stock performance [5]
Zevia(ZVIA) - 2024 Q1 - Earnings Call Transcript
2024-05-11 14:02
Zevia PBC (NYSE:ZVIA) Q1 2024 Earnings Conference Call May 8, 2024 8:30 AM ET Company Participants Reed Anderson - Managing Director, Investor Relations Amy Taylor - President & Chief Executive Officer Girish Satya - Chief Financial Officer Conference Call Participants Bonnie Herzog - Goldman Sachs Jim Salera - Stephens Inc. Eric Serotta - Morgan Stanley Sarang Vora - Telsey Advisory Group Operator Good day ladies and gentlemen and welcome to Zevia PBC Q1 2024 Earnings Call. [Operator Instructions] Please n ...
Zevia(ZVIA) - 2024 Q1 - Quarterly Report
2024-05-08 20:23
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40630 Zevia PBC (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Incorporation or Organiz ...
Zevia(ZVIA) - 2023 Q4 - Annual Report
2024-03-06 21:17
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40630 Zevia PBC (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Incorporation or Organization ...
Zevia(ZVIA) - 2023 Q4 - Earnings Call Presentation
2024-02-27 15:49
Zevia ZEUIA ZeyIa ream Soda Zevil k Cherry Zeula revil Zevil Leuil levia 4 GEUI8 Zeula 1 2023 Financial Results 12 FL OZ (355) Safe Harbor Statement This presentation and the related earnings press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievemen ...
Zevia(ZVIA) - 2023 Q4 - Earnings Call Transcript
2024-02-27 15:49
Zevia PBC (NYSE:ZVIA) Q4 2023 Earnings Conference Call February 27, 2024 8:30 AM ET Company Participants Reed Anderson - Managing Director, Investor Relations Amy Taylor - President and CEO Girish Satya - Chief Financial Officer Florence Neubauer - Senior Vice President, Finance and Business Transformation Conference Call Participants Ethan Huntley - Goldman Sachs Andrew Strelzik - BMO Capital Markets Sarang Vora - Telsey Advisory Group Jim Salera - Stephens Operator Ladies and gentlemen, good morning. And ...
Zevia(ZVIA) - 2023 Q4 - Annual Results
2024-02-27 12:14
Zevia Announces Fourth Quarter and Full Year 2023 Results Q4 Net Sales up 6.9%, including unit volumes up 3.7% Exhibit 99.1 LOS ANGELES – February 27, 2024 (BUSINESS WIRE) – Zevia PBC ("Zevia" or the "Company") (NYSE: ZVIA), the company bringing great tasting, zero sugar beverages made with simple, plant-based ingredients across usage occasions today reported results for the fourth quarter and fiscal year ended December 31, 2023. Fourth Quarter 2023 Highlights Full Year 2023 Highlights "Our fourth quarter v ...
Zevia(ZVIA) - 2023 Q3 - Earnings Call Transcript
2023-11-13 15:24
Zevia PBC (NYSE:ZVIA) Q3 2023 Earnings Conference Call November 7, 2023 8:08 AM ET Company Participants Reed Anderson - Managing Director ICR Amy Taylor - President & Chief Executive Officer Florence Neubauer - Interim Chief Financial Officer Conference Call Participants Bonnie Herzog - Goldman Sachs Jim Salera - Stephens Chris Carey - Wells Fargo Securities Dana Telsey - Telsey Advisory Daniel Gold - Bank of Montreal Alton Stump - Loop Capital Markets Operator Greetings and welcome to Zevia PBC Q3 2023 ear ...