Laird Superfood, Inc. (LSF) Misses Q3 EPS by 3c, Revenues Beat

Laird Superfood, Inc. (NYSE: LSF) reported Q3 EPS of ($0.86), $0.03 worse than the analyst estimate of ($0.83). Revenue for the quarter came in at $7.6 million versus the consensus estimate of $6.02 million.

hird Quarter 2020 Highlights

• Net Sales increased to $7.6 million, an increase of 118% year over year.
• Online sales contributed 49% of net sales, with lairdsuperfood.com sales growing 115% year over year.
• Wholesale sales contributed 50%, increasing 223% year over year, as retail door expansion reached approximately 7,200 locations.
• Liquid creamer rolled out to more than 1,200 locations, including Whole Foods and Kroger.
• Gross profit was $1.9 million and gross margin was 24.7%, compared to gross profit of $1.5 million and a gross margin of 41.9% in the prior year period.
• Net loss attributable to common stockholders was $4.0 million, or $0.86 per diluted share, compared to net loss of $2.4 million, or $0.66 per diluted share in the prior year period.

Paul Hodge Jr., Co-founder, President and Chief Executive Officer of Laird Superfood, commented, “The third quarter of 2020, our first quarter as a publicly traded company, was a record quarter for us with 118% year over year revenue growth, reflecting continued strength across the business. Our plant-based superfood products appeal to the growing desire for high quality, all-natural whole food ingredients that are also sustainably sourced and packaged.”

Hodge Jr. continued, “We are in the early stages of a long-term growth strategy built on market penetration into billion dollar-plus addressable markets like creamer, coffee and hydration. As a native digital platform, our loyal customer community continues to grow, reflecting the authenticity associated with the Laird Superfood brand. Mahalo to our dedicated team who achieved so much so far this year, despite adapting quickly through the pandemic, while staying focused on our operating goals and true to our culture and values.”

For earnings history and earnings-related data on Laird Superfood, Inc. (LSF) click here.

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