National Beverage (US:FIZZ)2026-03-12 20:33Financial Performance - Net sales for the third quarter of fiscal 2026 decreased 0.9% to $264.6 million from $267.1 million in the same period of fiscal 2025, primarily due to a 4.8% decrease in case volume[47]. - For the first nine months of fiscal 2026, net sales decreased 0.5% to $883.4 million, with a 4.9% decrease in case volume partially offset by a 4.7% increase in average selling price per case[53]. Gross Profit and Margins - Gross profit for the third quarter of fiscal 2026 increased to $99.6 million, with a gross margin of 37.6%, up from 37.1% in the prior year, driven by a 4.4% increase in average selling price per case[48]. - Gross profit for the first nine months of fiscal 2026 increased to $334.3 million, with a gross margin of 37.8%, up from 37.3% in the prior year[54]. Expenses - Selling, general and administrative expenses remained constant at $48.4 million, but as a percentage of net sales, they increased to 18.3% from 18.1% year-over-year[49]. Cash Position and Working Capital - The company's cash position increased by $120.1 million for the first nine months of fiscal 2026, compared to a decrease of $177.8 million in the same period of fiscal 2025[58]. - Working capital increased by $149.6 million to $416.0 million as of January 31, 2026, with a current ratio of 4.4 to 1 compared to 2.9 to 1 at May 3, 2025[63]. Operating Activities - Net cash provided by operating activities for the first nine months of fiscal 2026 was $135.7 million, down from $146.6 million in the prior year[59]. Cost of Sales - The average cost of sales per case increased by 3.4% for the third quarter and 3.7% for the first nine months of fiscal 2026[48][54]. Interest Income - Interest income for the third quarter of fiscal 2026 was $2.8 million, up from $1.4 million in the same period of fiscal 2025, attributed to increased average invested balances[50].