Zevia PBC is a beverage company that specializes in producing naturally flavored zero-calorie soft drinks, sparkling waters, and other refreshing beverages
Committed to health and sustainability, Zevia focuses on using plant-based ingredients and avoiding artificial sweeteners and colors in its products. The company aims to provide consumers with healthier alternatives to traditional sugary drinks while promoting a lifestyle that prioritizes wellness and environmental responsibility. Through its innovative product line, Zevia seeks to cater to the growing demand for better-for-you beverages in the marketplace.
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Shares of beverage company Zevia (NYSEZVIA)
fell 13.8% in the afternoon session after the company reported underwhelming preliminary fourth-quarter results with expectations for wider losses driven by increased spending on its holiday campaign. Precisely, the company expects an Adjusted EBITDA loss of $3.9 million to $4.2 million, compared to previous expectations for losses of $1.8 million to $2.2 million. In addition, sales are expected to be within the previous guidance range, which is less than exciting and mostly in line with consensus estimates. However, Zevia wasn't the only one to report weak holiday demand, as Five Below and Abercrombie & Fitch also didn't see the success that the market expected.
The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how beverages, alcohol, and tobacco stocks fared in Q3, starting with Zevia (NYSEZVIA).
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The past six months have been a windfall for Zevia’s shareholders. The company’s stock price has jumped 119%, hitting $2.08 per share. This was partly due to its solid quarterly results, and the run-up might have investors contemplating their next move.
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Beverage company Zevia (NYSEZVIA) fell short of the market’s revenue expectations in Q3 CY2024, with sales falling 15.6% year on year to $36.37 million. Next quarter’s revenue guidance of $39 million underwhelmed, coming in 4.1% below analysts’ estimates. Its GAAP loss of $0.04 per share was 50% above analysts’ consensus estimates.
