National Beverage Corp. Chief Executive Nick Caporella, who has never quite stuck to the earnings-report script, deviated from the path in a much more extreme way Thursday.
Companies announce earnings in news releases typically titled “Company reports fourth-quarter earnings,” or “Company delivers record-breaking second quarter.” National Beverage Corp., the company that makes the LaCroix brand of sparkling water, has never quite followed that path, but Chief Executive Nick Caporella deviated from the typical earnings script in a much more extreme way Thursday.
Caporella’s rant did not specify exactly what injustice caused National Beverage to sell fewer cans of flavored sparkling water than was expected. Instead, he moved on an awkward metaphor, comparing his job of managing a company that sells drinks to caring for a disabled person. LaCroix, and National Beverage stock, have come back to earth since, with a market capitalization of about $3.2 billion as of Thursday’s close — and that is bound to change Friday, as shares were down about 15% in after-hours trading Thursday. National Beverage sales fell by $6.5 million from last year to $221 million in the quarter reported Thursday, and profit fell to $24.8 million from $41.1 million. Shares have declined 31% in the past year.
“We are not a typical company,” the National Beverage spokesman said. “What comes out in the writings and the releases is the passion and intensity that we have for our consumer and for our products.”
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CEO of LaCroix maker blames 'injustice' for plummeting sales and promises that customers will remain loyal to the 'LaLa feeling' the drink providesThe CEO of LaCroix's parent company offered a bizarre apology on Thursday after sales plummeted in the most recent quarter.
Read more »
The Fortune 500 is expected to gain another female CEOIt's likely that Old Navy CEO Sonia Syngal will stay with the company as it spins off from Gap Inc.
Read more »
YouTube CEO does damage control after advertisers flee over pedophilia scandalYouTube CEO goes on damage control after advertisers flee over pedophilia scandal
Read more »
Disney slashes CEO Bob Iger's potential bonus by $13.5 million ahead of Fox mergerDisney amended its compensation agreement with CEO Bob Iger on Monday, reducing his overall opportunities for bonuses in the company's $71 billion deal to merge with Fox's media operations.
Read more »
Disney CEO Bob Iger sees his potential pay cut by $13.5 million'Jesus Christ himself isn't worth 550x his median worker's pay,' Disney heiress Abigail Disney shares her view that CEOs 'in general are paid far too much' days after Disney CEO Bob Iger saw a $13.5 million pay reduction.
Read more »
The 'un-iPhone moment' — here's what analysts had to say about Tesla's new Model 3Analysts were unimpressed after Tesla CEO Elon Musk announced a cheaper Model 3 yesterday afternoon.
Read more »
Cramer on the shocker from GE's CEO: 'You dropped a bomb on my head'CNBC's Jim Cramer says was shocked by GE's CEO Larry Culp's modified expectations for the struggling conglomerate's near-term turnaround.
Read more »
Trump called Tim Cook ‘Tim Apple,’ and the Apple CEO is leaning into itCook quietly changed his Twitter name as a coy nod to Trump's flub.
Read more »
Stocks under pressure | Ex-Nissan CEO post bail | New depression treatment approvedFutures are pointing to a mostly lower open for the Wednesday session, with Wall Street stuck in a mild funk.
Read more »