National Beverage Corp delivered QQ2 2026 results that reflect a pattern of revenue volatility tied to seasonality within the non-alcoholic beverage segment, yet with meaningful profitability and a strong balance sheet. Revenue for the quarter stood at $288.331 million, up 7.97% year-over-year but down 12.76% quarter-over-quarter, signaling typical quarterly swings in a consumer staples business with a heavy retail and on-the-go consumption footprint. The company posted a solid gross margin of 37.87% and an operating margin of 20.13%, with EBITDA of $58.046 million and net income of $46.364 million (net margin 16.08%), supported by disciplined SG&A expenditure of $51.139 million.
A standout feature of the QQ2 2026 results is the balance sheet strength: cash and cash equivalents of $269.314 million vs. total debt of $66.194 million leaves National Beverage with a negative net debt position of $203.12 million. The liquidity profile is robust, with total current assets of $491.437 million and current liabilities of $114.69 million, yielding a healthy current ratio (~4.3) and quick ratio well above 3x, indicating ample liquidity to fund working capital needs and strategic initiatives.
Key considerations for investors include ongoing exposure to brand-driven growth (notably LaCroix and related SKUs), potential scaling of premium and flavor extensions, and continued efficiency in selling, general, and administrative costs. While management commentary from the earnings call is not provided in the dataset, the quantitative results point to a business model with strong cash generation capacity and a prudent approach to capital allocation. The near-term demand environment appears to be characterized by seasonality and competitive dynamics typical of the U.S. and Canadian beverage markets, which will be key to monitor as management provides future guidance.