Lifeway Foods reports Q2 EPS 35c vs. 21c last year

Reports Q2 revenue $49.2M vs. $39M last year. “Our incredible momentum continued in the second quarter as we delivered our 19th consecutive quarter of net sales growth and our 5th consecutive quarter breaking the Lifeway record on the topline,” commented CEO Julie Smolyansky. “Our record net sales of $49.2M were up more than 25% year-over-year, driven by continued volume growth in our flagship Lifeway drinkable kefir…Notably, we delivered nearly $50 million in net sales, a remarkable milestone that we look forward to surpassing, and we also outperformed our previous quarterly sales record by more than 10%…Accompanying the very strong, volume-led topline growth, we continued to enhance our profitability profile with solid gross margins and strong net income growth, a testament to the seamless operational execution of our whole Lifeway team. We are thrilled with our results in the first half of 2024, and will continue to strategically invest behind the Lifeway brand to drive velocities, win new customers and position ourself to deliver more outstanding performances through the second half of this year and beyond.”