Lifeway Food Stock Price, News & Analysis

Lifeway Foods, Inc. (Nasdaq: LWAY) will announce its third quarter financial results for the period ending September 30, 2022, on November 14, 2022, before market hours. A pre-recorded conference call and webcast featuring CEO Julie Smolyansky will offer further details and insights into the Company’s performance, available on their Investor Relations webpage. Lifeway is recognized as a leading supplier of kefir and fermented probiotic products in the U.S., with products sold across several countries including Mexico, Ireland, and France.

Lifeway Foods reported a net sales increase of 14.8% year-over-year to $33.5 million for Q2 2022, marking its 11th consecutive quarter of growth. The rise was driven by higher sales volumes of drinkable kefir and price increases. Despite inflationary pressures, consumer demand remains strong, demonstrated by expanded distribution and sales velocities. The gross profit margin was 17.0%, while net income was $0.1 million or $0.01 per share. The company faced delays in reporting financial results but remains optimistic about growth opportunities.

Lifeway Foods, a leader in probiotic products, reported a 16.1% increase in net sales year-over-year, reaching $34.1 million for Q1 2022. This marks the 10th consecutive quarter of sales growth, driven by strong demand for their drinkable Kefir and price increases. The company remains optimistic about future growth, focusing on expanding distribution in retail and away-from-home locations. However, the reporting of financial results faced delays, impacting the filing of their 10-K and 10-Q reports.

Lifeway Foods, Inc. (Nasdaq: LWAY) received a notice from Nasdaq on August 23, 2022, indicating non-compliance with Listing Rule 5250(c)(1) due to delayed filings of its Quarterly Reports for Q1 and Q2 of 2022. This follows an earlier notice about the untimely filing of its Annual Report for 2021. The Company must submit a compliance plan by September 7, 2022, potentially receiving an extension up to 180 days to file necessary reports. Lifeway is actively working to meet these requirements and regain compliance.

Lifeway Foods, Inc. (Nasdaq: LWAY) announced a strategic agreement with Edward and Ludmila Smolyansky on July 29, 2022. This agreement stabilizes Lifeway's board of directors and facilitates the nomination of several key individuals for election at the upcoming annual meeting on August 31, 2022. Julie Smolyansky, President and CEO, expressed optimism about the new board members and their alignment with the company's mission. The board will also review strategic alternatives to enhance company performance.

Lifeway Foods (LWAY) reports a 16.7% increase in annual net sales, totaling $119.1 million for the year ended December 31, 2021. This marks the 9th consecutive quarter of growth, driven by higher sales volumes of drinkable kefir and the acquisition of GlenOaks Farms. Although selling expenses rose to $11.1 million, Lifeway maintained a steady gross profit margin of 24.1%. The company encountered delays in financial reporting due to an accounting error related to a past acquisition, necessitating restatements for prior periods.

Lifeway Foods (LWAY) announced receiving a Nasdaq notice indicating non-compliance with Rule 5250(c)(1) due to late filing of its 10-Q for Q1 2022 and previously for its 10-K for 2021. The Company must submit a compliance plan by June 20, 2022, to potentially regain compliance by October 12, 2022. Despite these issues, the Nasdaq notice has no immediate effect on LWAY's stock listing. Lifeway is actively working on its filings and aims to resolve the compliance issues promptly.

Lifeway Foods (LWAY) is launching a charity relief bottle, directing 100% of profits, up to $1 million, to support humanitarian aid for Ukraine. This initiative builds on their ongoing efforts, including a fundraiser that raised $700,000 for World Central Kitchen. Lifeway’s Plain Whole Milk Kefir will be the flagship product, expected on shelves in June. The company emphasizes its commitment to humanitarian support and collaboration with various organizations to aid Ukraine, reflecting its Ukrainian heritage and mission to help those in need.

Lifeway Foods (Nasdaq: LWAY) announced the filing of preliminary proxy materials for its 2022 Annual Meeting of Shareholders, revealing a slate of director nominees. The board proposes adding independent nominees, Perfecto Sanchez and JC Dalto, to enhance its leadership. CEO Julie Smolyansky highlighted their industry expertise and potential to add value. Lifeway's ongoing strategy has led to eight consecutive quarters of sales growth, with new product innovations like Lifeway Oat boosting retail acceptance. The company is committed to maintaining a diverse and skilled board for sustainable growth.