Zevia Pbc (NYSE:ZVIA) shares are trading lower by 21.5% at $6.85 Thursday morning after the company reported worse-than-expected fourth-quarter EPS and sales results.
Zevia reported quarterly losses of 59 cents per share which missed the analyst consensus estimate of a loss of 37 cents. The company reported quarterly sales of $34.17 million which missed the analyst consensus estimate of $36.33 million by 6%. Zevia sees FY22 sales of $177-$182 million, representing a midpoint higher than the analyst consensus estimate of $178.7 million.
"In 2021, we continued executing our long-term strategic plan to transform our organization and drive growth by enhancing unit economics, growing our consumer base through innovation and marketing, and expanding our channel strategy," said Paddy Spence, Chair and Chief Executive Officer of Zevia.
"Fourth-quarter growth was strong and accelerated sequentially, fueled by broad-based volume gains across our product portfolio and distribution channels. Our focused approach to driving trial continues to yield strong results, as Zevia added over one million new households to our consumer base."
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Zevia is a beverage company disrupting the liquid refreshment beverage industry through refreshing, zero-calorie, zero sugar, naturally sweetened beverages that are all Non-GMO Project Verified.
Zevia has a 52-week high of $17.50 and a 52-week low of $6.43.
