- Zevia PBC (NYSE:ZVIA) reported second-quarter FY22 sales growth of 33% year-on-year to $45.54 million, beating the consensus of $42.17 million.
- Unit volume climbed 30% Y/Y to 3.9 million equivalized cases.
- Gross profit grew 7% to $17.4 million, while the margin contracted 920 basis points to 38.1%, reflecting the impact of broad-based inflationary pressures.
- Loss from operations for the quarter widened sharply to $(14.7) million.
- The company held $49.6 million in cash and equivalents as of June 30, 2022.
- EPS loss for the quarter was $(0.28). Adjusted EBITDA loss for the quarter widened to $(6.4) million.
- “Growth was balanced across channels as we continued to expand our distribution with new and existing customers,” said CEO Amy Taylor.
- Outlook: Zevia maintained its FY22 sales forecast of $177 million – $182 million, versus the consensus of $178.49 million.
- The company expects Q3 sales of $46 million – $48 million, below the estimate of $52.15 million.
- Price Action: ZVIA shares are trading higher by 16.22% at $3.94 on the last check Thursday.
RBC Capital Maintains Outperform on Emera, Lowers Price Target to C$68
RBC Capital analyst Maurice Choy maintains Emera (TSX:EMA) with a Outperform and lowers the price target from C$72 to C$68.
