Lifeway Foods, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 02:01 pm
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Lifeway Foods, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 39.23 million compared to USD 33.49 million a year ago. Net income was USD 3.16 million compared to USD 0.12 million a year ago. Basic earnings per share from continuing operations was USD 0.22 compared to USD 0.01 a year ago. Diluted earnings per share from continuing operations was USD 0.21 compared to USD 0.01 a year ago.
For the six months, sales was USD 77.13 million compared to USD 67.59 million a year ago. Net income was USD 3.99 million compared to net loss of USD 0.775 million a year ago. Basic earnings per share from continuing operations was USD 0.27 compared to basic loss per share from continuing operations of USD 0.05 a year ago. Diluted earnings per share from continuing operations was USD 0.26 compared to diluted loss per share from continuing operations of USD 0.05 a year ago.
Lifeway Foods, Inc. is a producer and marketer of kefir in the United States. The Companyâs primary product is drinkable kefir, a cultured dairy product sold in a variety of organic and non-organic sizes, flavors and types. Lifeway kefir is tart and tangy, high in protein, calcium, and vitamin D. Its product categories also include European-style soft cheeses, including farmer cheese, white cheese, and Sweet Kiss; Cream and other, which consists primarily of cream, a byproduct of making its kefir; ProBugs, a line of kefir products designed for children, Drinkable yogurt, sold in a variety of sizes and flavors; and Other Dairy, which consists primarily of Fresh Made butter and sour cream. It manufactures (directly or through co-packers) and market products under the Lifeway, Fresh Made and Glen Oaks Farms brand names, as well as under private labels on behalf of certain customers. The Company sells its products primarily through its direct sales force, brokers, and distributors.
LIFEWAY FOODS, INC. 
