Laird Superfood, Inc. (LSF) Misses Q1 EPS by 15c, Revenues Miss

Laird Superfood, Inc. (NYSE: LSF) reported Q1 EPS of ($0.60), $0.15 worse than the analyst estimate of ($0.45). Revenue for the quarter came in at $7.4 million versus the consensus estimate of $8 million.

First Quarter 2021 Highlights

• Net Sales increased to $7.4 million, an increase of 35% year over year.
• Online sales contributed 59% of net sales, increasing 65% year over year, with lairdsuperfood.com sales growing 135% year over year, and subscribers growing 153%.
• Wholesale sales contributed 39% of net sales, increasing 7% year over year, and included retail door expansion, beginning in March, into Target, Harris Teeter and Wakefern.
• Gross profit was $1.9 million and gross margin was 25.1% compared to gross profit of $2.1 million and gross margin of 38.6% in the prior year quarter.
• Net loss attributable to common stockholders was $5.3 million, or $0.60 per diluted share, compared to net loss attributable to common stockholders of $2.0 million, or $0.47 per diluted share, in the prior year period.

“Our first quarter 2021 results illustrate the power of our omnichannel platform as we continued aggressively scaling our business,” said Paul Hodge Jr., Co-founder, President and Chief Executive Officer of Laird Superfood. “Gross margins improved 480 basis points from the fourth quarter, and net sales increased 35% year over year, including a 65% increase in our dominant online channel. Subsequent to the end of the quarter, we completed the acquisition of Picky Bars, a fellow Central-Oregon based company that is aligned with our core values, our mission and our strategic goals. We are very excited to integrate their healthy snacks and breakfast products across the entire omnichannel platform,” concluded Hodge Jr.

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

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