Zevia (ZVIA) Reports Q2 Loss, Tops Revenue Estimates

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]