Zevia PBC (NYSE:ZVIA) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Zevia PBC (NYSE:ZVIA) announced its earnings results on Wednesday. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.04, Zacks reports. The company had revenue of $40.43 million during the quarter, compared to the consensus estimate of $39.59 million. Zevia PBC had a negative net margin of 15.58% and a negative return on equity of 37.98%. During the same quarter in the prior year, the company posted ($0.08) earnings per share. Zevia PBC updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

Zevia PBC Stock Up 3.9 %

Shares of NYSE:ZVIA traded up $0.03 during midday trading on Friday, reaching $0.87. 143,061 shares of the company traded hands, compared to its average volume of 218,781. Zevia PBC has a 12 month low of $0.62 and a 12 month high of $2.87. The firm has a market capitalization of $62.93 million, a price-to-earnings ratio of -1.81 and a beta of 0.64. The firm’s fifty day moving average price is $0.81 and its two-hundred day moving average price is $1.08.

Analysts Set New Price Targets

A number of research firms have weighed in on ZVIA. The Goldman Sachs Group dropped their target price on shares of Zevia PBC from $3.00 to $1.25 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. Wells Fargo & Company dropped their price objective on Zevia PBC from $1.25 to $1.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. Finally, Telsey Advisory Group reduced their price objective on Zevia PBC from $3.00 to $2.00 and set a “market perform” rating for the company in a report on Thursday, May 9th.

About Zevia PBC

Zevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated beverages in the United States and Canada. It offers soda, energy drinks, organic tea, and kidz drinks. The company offers its products through a network of food, drug, warehouse club, mass, natural, convenience, and e-commerce channels, as well as grocery distributors and natural product stores and specialty outlets.