Lifeway Foods Expects Growth in Net Sales for Q4 2024 and Full-Year 2024

On January 6, 2025, Lifeway Foods, Inc. (NASDAQ: LWAY) responded to a letter from Danone North America PBC regarding the company’s financial outlook. In the response letter, Lifeway Foods stated that based on current preliminary and unaudited projections, the company anticipates net sales to range between $45.1 million and $46.6 million for the three-month period ended December 31, 2024. This reflects an increase from $42.1 million for the same period in 2023. Further, Lifeway Foods expects full-year 2024 net sales to range between $185.0 million and $186.5 million, up from $160.1 million in 2023.

The board of directors strongly disputes Danone’s claim that their decision to reject an offer from Danone or to issue shares to the Company’s CEO since 2021 violates any fiduciary duties. The Board emphasized that their decisions were made after careful consideration, in consultation with independent advisors. Lifeway believes that its standalone plan has the potential to provide superior value to all shareholders compared to Danone’s offer. The Board also stands behind the recent agreements with CEO Ms. Smolyansky, stating they align incentives with other shareholders and ensure continuity in leadership.

The letter addressed by Lifeway highlights a series of financial and strategic decisions made by the company and emphasizes the value it sees in its current trajectory. The response letter furnished to Danone was included as Exhibit 99.1 to the filing. The company also provided cautionary statements concerning forward-looking statements, emphasizing the inherent uncertainties in projecting future financial performance.

It is essential to note that the contents outlined in the response letter are based on current preliminary and unaudited projections, and the final results for the fourth quarter and full-year 2024 may differ. Lifeway Foods has completed its financial review processes and underscores the need for careful consideration of these preliminary results. They also emphasize that non-GAAP financial measures should be considered in addition to, not a replacement for, GAAP measures. The company disclaims any obligation to update forward-looking statements except as required by law.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Lifeway Foods’s 8K filing here.

About Lifeway Foods

Lifeway Foods, Inc produces and markets probiotic-based products in the United States and internationally. Its primary product is drinkable kefir, a cultured dairy product in various organic and non-organic sizes, flavors, and types. The company offers European-style soft cheeses; cream and other products; ProBugs, a line of kefir products designed for children; drinkable yogurt; and fresh made butter and sour cream.