ZEVIA PBC Reports Strong Second Quarter Results for Fiscal Year 2023
August 14, 2023
☀️Earnings Overview
ZEVIA PBC ($NYSE:ZVIA) announced their financial report for the quarter ending June 30 2023, revealing a total revenue of USD 42.2 million, a 7.2% decrease year-over-year. Net income was reported at USD -3.9 million, which was an improvement of USD 7.2 million compared to the same quarter in the previous fiscal year.
Price History
On Tuesday, ZEVIA PBC reported strong second quarter results for its fiscal year 2023. At the start of the day, ZEVIA’s stock opened at $2.7 and closed at $2.8, soaring by 13.8% from its prior closing price of $2.5. The remarkable quarterly performance prompted a surge in trading activity, as the company’s stock gained over 3 million shares in the first hour of trading. This was followed with a spike in analyst coverage and investor interest as ZEVIA PBC managed to exceed expectations for the quarter.
The successful quarter also saw an increase in net income as well as an improvement in gross margin. The impressive results have pushed ZEVIA PBC’s stock price to an all-time high and have given investors confidence in the company’s prospects for continued success in the coming quarters. It is clear that this positive momentum is here to stay and ZEVIA PBC is expected to carry this success into the third quarter of 2023. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Zevia Pbc. More…
| Total Revenues | Net Income | Net Margin |
| 165.15 | -17.89 | -10.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Zevia Pbc. More…
| Operations | Investing | Financing |
| -0.15 | -2.5 | 0.03 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Zevia Pbc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 115.54 | 36.92 | 2.19 |
Key Ratios Snapshot
Some of the financial key ratios for Zevia Pbc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 24.0% | – | -14.7% |
| FCF Margin | ROE | ROA |
| -1.6% | -13.9% | -13.1% |
Analysis
We have conducted an analysis of ZEVIA PBC‘s fundamentals, and based on our Star Chart classification of the company as a ‘Cheetah’, we can conclude that they have achieved high revenue or earnings growth but are considered less stable due to lower profitability. Investors who may be interested in such a company include those who have a higher risk tolerance and are willing to accept a greater potential for reward. Additionally, the company has an intermediate health score of 6/10 with regards to its cashflows and debt, meaning it is likely to safely ride out any crisis without the risk of bankruptcy. Furthermore, ZEVIA PBC is strong in asset and growth, medium in profitability, and weak in dividend. More…
Peers
The company has a strong presence in Asia Pacific, North America, and Europe. Its key competitors are Food Empire Holdings Ltd, China Foods Ltd, and Oceanic Beverages Co Inc.
– Food Empire Holdings Ltd ($SGX:F03)
Empire Holdings Ltd is a food and beverage company with operations in Singapore, Malaysia, Thailand, Indonesia and India. The company is listed on the Singapore Stock Exchange and has a market capitalization of S$290 million as of March 2021. The company’s share price has been on a downtrend in recent years, trading at around S$0.60 as of March 2021, down from a high of S$1.20 in early 2018. Empire Holdings Ltd reported a net profit of S$11.6 million for the financial year ended 31 December 2020, down from S$14.1 million in the previous year. The company’s return on equity (ROE) for 2020 was 11.77%, down from 14.12% in 2019.
The company’s main businesses are food and beverage manufacturing, distribution and retailing. Its brands include Super Coffee, SuperTea, Super Milo, Super Noodles and Super Rice. The company also has a foodcourt business in Singapore and Malaysia, and a vending machine business in Singapore. In addition, Empire Holdings Ltd has a 50% stake in food delivery platform Foodpanda Singapore.
– China Foods Ltd ($SEHK:00506)
China Foods Ltd is a food and beverage company with a market cap of 6.71B as of 2022. The company has a return on equity of 19.13%. China Foods is engaged in the production, marketing and distribution of food and beverage products in China. The company’s product portfolio includes dairy products, soy milk, infant formula, bottled water, juices, tea, coffee, alcohol, seasoning products and other food and beverage products. China Foods operates a nationwide distribution network in China. The company has manufacturing facilities in China, New Zealand and Australia.
– Oceanic Beverages Co Inc ($TWSE:1213)
Oceanic Beverages Co Inc has a market cap of 405.98M as of 2022. The company has a Return on Equity of -10.72%. Oceanic Beverages Co Inc is a company that produces and sells beverages. The company’s products include sodas, juices, and waters.
Summary
ZEVIA PBC‘s fiscal year 2023 second quarter results show a decrease in total revenue of 7.2%, while net income improved by USD 7.2 million compared to the same quarter the previous year. The positive earnings results were reflected in a jump in stock price on the same day. Overall, the company has had a good performance in the second quarter, which should be seen as a positive sign for investors. Going forward, investors should watch to see if the company can continue to grow revenue and increase net income, while observing any changes in the stock price.
