10-Q Filing

NATIONAL BEVERAGE CORP CIK: 69891 Q2 2023

Filing Information

Form Type	10-Q
Accession Number	`0001437749-22-028751`
Period End Date	20221031
Filing Date	20221208
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	fizz20221029_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 52 Cash Flow Statement 56 Stockholders Equity 15 Comprehensive Income 12

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$92.63M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$48.05M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	150,000.00	shares	Point-in-time
Trade receivables - net	`AccountsReceivableNetCurrent`	$93.59M	USD	Point-in-time
Trade receivables - net	`AccountsReceivableNetCurrent`	$100.44M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	150,000.00	shares	Point-in-time
Inventories	`InventoryNet`	$103.32M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories	`InventoryNet`	$88.41M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Prepaid and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$17.20M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Prepaid and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$29.56M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	101.73M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	101.71M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$274.52M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$298.68M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$143.16M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$144.26M	USD	Point-in-time
Right of use assets	`OperatingLeaseRightOfUseAsset`	$38.79M	USD	Point-in-time
Right of use assets	`OperatingLeaseRightOfUseAsset`	$29.25M	USD	Point-in-time
Goodwill	`Goodwill`	$13.14M	USD	Point-in-time
Goodwill	`Goodwill`	$13.14M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$1.61M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$1.61M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.01M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.73M	USD	Point-in-time
Total assets	`Assets`	$500.12M	USD	Point-in-time
Total assets	`Assets`	$467.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$84.38M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$95.30M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$51.13M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$39.09M	USD	Point-in-time
Short-term lease obligations	`OperatingLeaseLiabilityCurrent`	$10.54M	USD	Point-in-time
Short-term lease obligations	`OperatingLeaseLiabilityCurrent`	$12.04M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$154.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$387.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$147.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$145.32M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$30.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Deferred income taxes net	`DeferredIncomeTaxLiabilitiesNet`	$20.59M	USD	Point-in-time
Deferred income taxes net	`DeferredIncomeTaxLiabilitiesNet`	$23.82M	USD	Point-in-time
Operating lease liability - non current	`OperatingLeaseLiabilityNoncurrent`	$20.70M	USD	Point-in-time
Operating lease liability - non current	`OperatingLeaseLiabilityNoncurrent`	$28.80M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$8.52M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$7.92M	USD	Point-in-time
Total liabilities	`Liabilities`	$205.01M	USD	Point-in-time
Total liabilities	`Liabilities`	$228.37M	USD	Point-in-time
Preferred stock, $1 par value - 1,000,000 shares authorized: Series C - 150,000 shares issued	`PreferredStockValue`	$150.00K	USD	Point-in-time
Preferred stock, $1 par value - 1,000,000 shares authorized: Series C - 150,000 shares issued	`PreferredStockValue`	$150.00K	USD	Point-in-time
Common stock, $.01 par value - 200,000,000 shares authorized; 101,726,258 shares issued (101,712,358 shares at April 30)	`CommonStockValue`	$1.02M	USD	Point-in-time
Common stock, $.01 par value - 200,000,000 shares authorized; 101,726,258 shares issued (101,712,358 shares at April 30)	`CommonStockValue`	$1.02M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$40.03M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$39.41M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$287.68M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$216.18M	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$6.92M	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-9.53M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$239.44M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$295.12M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$446.85M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$500.12M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$467.80M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$283.16M	USD	1 Quarter
Net sales	`Revenues`	$594.87M	USD	2 Qtrs
Net sales	`Revenues`	$617.75M	USD	2 Qtrs
Net sales	`Revenues`	$299.63M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$181.67M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$368.61M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$418.35M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$199.64M	USD	1 Quarter
Gross profit	`GrossProfit`	$101.48M	USD	1 Quarter
Gross profit	`GrossProfit`	$199.40M	USD	2 Qtrs
Gross profit	`GrossProfit`	$100.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$226.26M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$49.92M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$53.07M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$106.00M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$104.37M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$46.92M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$93.40M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$51.56M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$121.89M	USD	2 Qtrs
Other income (expense) - net	`OtherNonoperatingIncomeExpense`	$86.00K	USD	1 Quarter
Other income (expense) - net	`OtherNonoperatingIncomeExpense`	$-22.00K	USD	2 Qtrs
Other income (expense) - net	`OtherNonoperatingIncomeExpense`	$2.00K	USD	2 Qtrs
Other income (expense) - net	`OtherNonoperatingIncomeExpense`	$-7.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$47.01M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$51.55M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$121.87M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$93.40M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$21.90M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$10.96M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$28.77M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$12.27M	USD	1 Quarter
Net income	`NetIncomeLoss`	$36.05M	USD	1 Quarter
Net income	`NetIncomeLoss`	$93.10M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$71.50M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$39.28M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$42.00	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$77.00	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.00	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$39.00	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$39.00	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$76.00	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$99.00	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$42.00	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	93,321.00	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	93,310.00	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	93,344.00	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	93,341.00	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	93,640.00	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	93,607.00	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	93,601.00	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	93,602.00	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$36.05M	USD	1 Quarter
Net income	`NetIncomeLoss`	$93.10M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$71.50M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$39.28M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.44M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$9.23M	USD	2 Qtrs
Deferred income tax provision (benefit)	`DeferredIncomeTaxesAndTaxCredits`	$1.15M	USD	2 Qtrs
Deferred income tax provision (benefit)	`DeferredIncomeTaxesAndTaxCredits`	$-363.00K	USD	2 Qtrs
Gain on sale of property, net	`GainLossOnSaleOfProperties`	-	USD	2 Qtrs
Gain on sale of property, net	`GainLossOnSaleOfProperties`	$-8.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$342.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$350.00K	USD	2 Qtrs
Amortization of operating right to use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$6.59M	USD	2 Qtrs
Amortization of operating right to use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$6.87M	USD	2 Qtrs
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$6.85M	USD	2 Qtrs
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$1.80M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-14.91M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$7.31M	USD	2 Qtrs
Operating lease right to use assets	`IncreaseDecreaseInOperatingLeaseRightOfUseAsset`	$1.59M	USD	2 Qtrs
Operating lease right to use assets	`IncreaseDecreaseInOperatingLeaseRightOfUseAsset`	$16.13M	USD	2 Qtrs
Prepaid and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-3.19M	USD	2 Qtrs
Prepaid and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-510.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-10.92M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.59M	USD	2 Qtrs
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-9.54M	USD	2 Qtrs
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-1.57M	USD	2 Qtrs
Operating lease obligation	`IncreaseDecreaseInOperatingLeaseLiability`	$-5.09M	USD	2 Qtrs
Operating lease obligation	`IncreaseDecreaseInOperatingLeaseLiability`	$9.60M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$85.96M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$82.24M	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.97M	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.63M	USD	2 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$27.00K	USD	2 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.63M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.95M	USD	2 Qtrs
Proceeds from stock options exercised	`ProceedsFromStockOptionsExercised`	$111.00K	USD	2 Qtrs
Proceeds from stock options exercised	`ProceedsFromStockOptionsExercised`	$285.00K	USD	2 Qtrs
Repayments of loan facility	`RepaymentsOfDebt`	-	USD	2 Qtrs
Repayments of loan facility	`RepaymentsOfDebt`	$30.00M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$111.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-29.71M	USD	2 Qtrs
Net Increase in Cash and Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$44.58M	USD	2 Qtrs
Net Increase in Cash and Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$79.45M	USD	2 Qtrs
Cash and Equivalents - Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$92.63M	USD	Point-in-time
Cash and Equivalents - Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$273.04M	USD	Point-in-time
Cash and Equivalents - Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$48.05M	USD	Point-in-time
Cash and Equivalents - Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$193.59M	USD	Point-in-time
Cash and Equivalents - End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$92.63M	USD	Point-in-time
Cash and Equivalents - End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$273.04M	USD	Point-in-time
Cash and Equivalents - End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$48.05M	USD	Point-in-time
Cash and Equivalents - End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$193.59M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$93.00K	USD	2 Qtrs
Interest paid	`InterestPaidNet`	$224.00K	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	$31.39M	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	$21.37M	USD	2 Qtrs

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$239.44M	USD	Point-in-time
Balance	`StockholdersEquity`	$295.12M	USD	Point-in-time
Balance	`StockholdersEquity`	$446.85M	USD	Point-in-time
Stock options exercised (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	13,900.00	shares	2 Qtrs
Net income	`NetIncomeLoss`	$36.05M	USD	1 Quarter
Net income	`NetIncomeLoss`	$93.10M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$71.50M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$39.28M	USD	1 Quarter
Cash flow hedges, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-2.71M	USD	2 Qtrs
Cash flow hedges, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-16.45M	USD	2 Qtrs
Cash flow hedges, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-960.00K	USD	1 Quarter
Cash flow hedges, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-5.49M	USD	1 Quarter
Balance	`StockholdersEquity`	$239.44M	USD	Point-in-time
Balance	`StockholdersEquity`	$295.12M	USD	Point-in-time
Balance	`StockholdersEquity`	$446.85M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$36.05M	USD	1 Quarter
Net income	`NetIncomeLoss`	$93.10M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$71.50M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$39.28M	USD	1 Quarter
Cash flow hedges	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-2.71M	USD	2 Qtrs
Cash flow hedges	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-16.45M	USD	2 Qtrs
Cash flow hedges	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-960.00K	USD	1 Quarter
Cash flow hedges	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-5.49M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$38.32M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$90.39M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$30.55M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$55.05M	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.