Beverage company Zevia (NYSE:ZVIA) will be announcing earnings results tomorrow before market hours. Here's what to look for.
Zevia PBC missed analysts' revenue expectations by 1.6% last quarter, reporting revenues of $38.8 million, down 10.4% year on year. It was a weak quarter for the company, with revenue guidance for next quarter missing analysts' expectations.
Is Zevia PBC a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Zevia PBC's revenue to decline 7.8% year on year to $38.94 million, in line with the 7.2% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.10 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Zevia PBC has missed Wall Street's revenue estimates twice over the last two years.
Looking at Zevia PBC's peers in the beverages and alcohol segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Coca-Cola delivered year-on-year revenue growth of 2.9%, beating analysts' expectations by 4.8%, and Constellation Brands reported revenues up 5.8%, in line with consensus estimates. Coca-Cola traded up 1.6% following the results while Constellation Brands's stock price was unchanged.
Read our full analysis of Coca-Cola's results here and Constellation Brands's results here.
Investors in the beverages and alcohol segment have had steady hands going into earnings, with share prices up 1.8% on average over the last month. Zevia PBC is up 38.2% during the same time and is heading into earnings with an average analyst price target of $2.4 (compared to the current share price of $0.85).
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