National Beverage Corp. (NASDAQ: FIZZ) reported first-quarter results on September 10, 2026, for the period ended August 1, 2026. Net sales were $330.7 million, about level with $330.5 million a year earlier. Net income fell to $47 million from $55.8 million, and diluted earnings per share dropped to $0.50 from $0.60, as tariffs and higher input costs weighed on margins.
The Fort Lauderdale, Florida, company said average selling price increases were largely offset by volume declines during the quarter. Average selling price per case increased 7.1%, while case volume declined 6.4%, resulting in approximately flat sales, according to the company’s quarterly filing. Gross margin was 35%, which the company attributed to elevated packaging and ingredient costs, including tariffs and higher aluminum commodity costs.
#Tariffs and Aluminum Costs Pressure First-Quarter Margin
Aluminum costs alone reduced gross margin by almost 600 basis points during the quarter, National Beverage said. Higher fuel and freight expenses also pressured both inbound and outbound shipping costs, adding further strain on quarterly results, according to the company.
National Beverage said it elected to absorb a portion of tariff-related cost increases in response to a request from the current administration, while continuing to monitor market conditions it described as volatile. The company said recently instituted pricing actions are intended to help offset these pressures going forward.
A company spokesperson characterized quarterly demand trends in the earnings release. "Our first quarter net sales were negatively impacted by consumer sentiment and tariffs, as average selling price increases were largely offset by volume declines," the spokesperson said. "While market conditions remain soft, we are encouraged by the rebound in orders during August and are optimistic that improving volume and mix will resume growth going forward."
#National Beverage Paid $304 Million Special Dividend in July
National Beverage paid a special cash dividend of $3.25 per share on July 30, 2026, a total of $304 million, during the quarter. The payment marked the company's thirteenth special dividend since the program began, according to the earnings release.
Cumulative special dividends now total $19.78 per share, or more than $1.8 billion returned to shareholders, the company said. Cash on hand stood at $107 million as of August 1, 2026, after the dividend payment, down from earlier in the quarter.
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#Trailing Twelve-Month Sales Reached $1.18 Billion
Over the trailing twelve months ended August 1, 2026, National Beverage generated net sales of $1.18 billion and net income of $174.9 million, with diluted earnings per share of $1.87, according to the company's financial statements.
Average diluted shares outstanding were about 93.7 million for the quarter, compared with about 93.7 million a year earlier, essentially unchanged. Basic shares outstanding averaged about 93.6 million in both periods, the filing showed.
National Beverage also said it plans to introduce a new LaCroix flavor, PineApple CocoNut, which it featured in a summer advertising campaign. The company's beverage portfolio includes LaCroix Sparkling Water, carbonated soft drinks, and single-serve juice and drink products sold under a range of brand names.
Management said it expects improving volume and mix trends to support renewed growth following the recent pricing actions. The company cautioned that tariffs, commodity costs such as aluminum, freight expenses, and broader consumer demand trends remain risks to that outlook, according to its earnings release.