Zevia reports Q3 EPS (4c), consensus (8c)

Reports Q3 revenue $36.4M, consensus $39.2M .”We are very pleased to have delivered vast improvements in net loss and adjusted EBITDA, despite coming in slightly below our net sales expectations,” said Amy Taylor, President and Chief Executive Officer. “Through the strong execution of our Productivity Initiative, we now expect to achieve $15 million in annual cost savings, the majority of which we plan to reinvest in growth initiatives”. “Looking ahead, we expect to resume net sales growth in the fourth quarter, in large part due to expanded nationwide distribution at Walmart. This partnership not only bolsters volume, but also fosters awareness and trial across regions where we are underpenetrated and growing fastest. Overall, we remain laser focused on executing a powerful brand marketing strategy, building sustainable distribution expansion and delivering product innovation that is unmatched in the natural soda category, all of which we believe will help pave the way to strong profitable growth long term.”