John, you, everyone today. and joining us to good Thank afternoon
appreciate always, year to you speaking with thrilled we in earnings As A I'm our XXXX greatly Lifeway our Foods. business. be growth year for results. regarding your today, interest full of record-setting
our despite strong of operative this results, efforts first partners presented out to to call I allowed efforts seamlessly like year. customers, industry-wide to impressive would incredible us deliver for our team and execution entire the and the Lifeway the challenging discussing whose us valued environment Before
team This company's pleased great business, year crushed I strongest the back was dominance couldn't X.X strategy And This of yet, continued the top of our Lifeway XXst XXXX today. simply, recorded as reflects CEO the effectively have be on and our core efforts as executed Foods. our in sales as Kefir and more it they stands of our year assortment. the Lifeway in history. it with the at year our Lifeway Quite year line we delivered in throughout the of on highest the place, record we my
Now I'll year XXXX review full our results.
our an increase year for driven was XX.X% or primarily of year. high compared XXXX, higher by December were GlenOaks of the $XX.X prior quarter to branded impact during the $XXX.X of increase acquisition of of to ended a net the increases XX, sales volumes during and year XXXX. Our sales of million third implemented the million drinkable our and, lesser our annual the record extent, Farms favorable the kefir net impact The price
Year-over-year, our our of on marking quarter result our year, with our Lifeway product net grew of sales quarter Kefir every single consecutive enhanced focus a fourth flagship growth. the this quarter, XXth
compared strong record grew when more we're when consider XXXX. in even When XXXX, is year a growth impressive to net you our to XXXX. markedly up Our are sales compared XX.X% we lapping and XX.X%,
volumes year, Kefir both increases acquisition active in strategies While and did Lifeway our this consumption year. better-for-you our These higher despite premium success the stickiness our tag price it's the increases customers. a implement we illustrate the in offering and to note of price for dollars of grew important customer
addition, we XX.X% ended margin gross for XXXX. year reported XX, December of the In profit a
affected have to the that peers, are space. like our macro we throughout industry discussed we've broad As not year, immune the our headwinds
raw milk, This costs year, packaging commodity particularly increases our incremental price we incurred freight. and on inflationary from core well as as materials,
pursued effort and margin this took previously, line for while bottom further the to COGS throughout thoughtfully growth. our As to to year in inflation we've sales impact we disclosed the account negative an performance, price we minimize
margins keep pricing favorable productivities moving for milk possible. search we later to will to lead and as and to on, are stabilize, continue them in now for the see eye forward We prices more stable to a keep milk pleased which I'm to to year. incremental business our that say intend beginning Additionally, could which as close prioritize
December XX-K to legal Form restatement. to result which year XX, million of Moving is expenses prior administrative increased year ended $XX.X a increase expenses professional -- include in and million $XX.X for primarily general XXXX, fiscal to to expenses. $X.X compared XXXX the and increased fees, result Selling, year. the on the million The related
increased expenses strategic prior the compared products SG&A, increased $XXX,XXX and high levels drive expand our we as maintained behind the to investments our With awareness to selling of core velocities. year,
basic during common ended million in compared income XXXX. of during net to and Our of the share, $X.X net $X.X $X.XX same December the per XX, common reflecting an was EPS XXXX, of reflecting share the basic $X.XX income EPS and year per diluted million period an diluted
remain year on Capital our ended our company spending million focus stabilizing to improving approximately the December $X.X intent million expect during potential see and With and and efficiencies progress XXXX. $X.X higher XX, increased we margins on pricing, on metrics. milk from relief to profitability
spending core cost on is capital, and improvements. reduction X facility capital areas: Our focused growth
improvements capital The new product Spend enhancements. on facility manufacturing support growth safety reduction supports innovation efficiencies, and cost productivity. and and
improving our internal continued goals continue to reflects Our business capital commitment efficiencies. and as our growing a
Foods. year XXXX Lifeway remarkable summarize, was for a To record-breaking
brand every recorded in growth Our quarter million. highest sales $XXX.X leading our year, delivered to and of single the of each annual
growth, strategically the promoting a As invest and awareness growing Lifeway retention for sales Kefir and to on drivers sales we focus our of product. far continue with in as core marketing
wins also channel incremental our We by continue and the our current relationships convenience quarter. retail while distribution, to enhance with in partners third pursuing customers, highlighted
of discuss our put will behind I our dollars launches, recent strategy, by momentarily. that product we some Additionally, highlighted innovation
out by resilient the the With even consumers, offerings. sacrifice minds down our there key a health which the net While may more strong, the in certain spite increased to to consumption the and their macro themselves velocities half accelerating our to sales, and seem to numbers in do of of of accompanied on back an premium the positive were wellness, and more demonstrate our is commitment said, value anticipation weighted the retailers that strong notable, to high current they expectation pressures. not inflation of trade year, willing That recession backdrop. are or consumer products of is that given begin performance customers
the shown greater to delivering customers has have fact, Lifeway new turned. In actually are than story data velocities customers who previous recent that
the Our should ahead. immune fortifying tailwind, of to products new customer prove look healthy strength a our and to with we as be base consumers commitment their system
XXXX, consumption us in and grew digits position. putting market both total dollars, a in During Lifeway by double strong
the Lifeway in Farms acquisition With Foods ninth States brands, GlenOaks the by manufacturer growth is United Lifeway and yogurt the of of now sales. the largest
data to adult spot items yogurt likely We have to customers shows of new shoppers worked increased IRI and customers. to the that loyalty from kefir drink bring number for customers and by existing in the category, increased the Panel top purchased current existing earning XX%, retain segment.
data an that show rate. efforts households. the Lifeway shopper Panel gains first-time inclusive demographics first-time among at Hispanic focused The on impressive -- XX% and repeated our market Asian produce buyers and also
ACV, of distribution our year. the grown a As our velocities purchase past has in have measure also risen,
have X.X our our distribution points points, We within increased the multi-outlet distribution natural segment. X.X have the and in increased category
customers with gut. vitamin in Lifeway's microbiome protein that provide and of help gut products and well-being. their a Kefir approximately The come probiotics, kefir and XX% healthy probiotics to support immunity support immune D the from has mental health, defense
major the and products depression centers links brain the from role the role intestinal happiness which comes know to as emotional up research XX% brain now body cells of well-being. related of of and gut access, in cognitive serotonin anxiety. the plays our function, with stress, and intense gut and a and Probiotic the focus that kefir We in the to microbiomes' such are
As on they product even and Lifeway today, bacteria those customers which be care to in will focus more benefit learn and facts portfolio. microbiome, more health, great should the about their their of
don't years expect XX strong experience U.S. share and of Lifeway market With anytime lose the to dominant that the commands the and space, industry, foothold we soon. within kefir
that, believe we the kefir. market this are With capitalize of addressable positioned continued best we within on to growth
path have our industry-leading through recent innovation. alternative the driver the trends the nimble the in business has products, it market. with A rapid to been adapt onset drinkable to Kefir to customer always and core continues been grow of dairy While example Lifeway and of being our we behavior
in the is best. $XX.X why XXXX, XX% customers After do in and Lifeway what kefir increased healthy, million sales keep year. compared its Selling Kefir it's drinkable coming love XXXX, net us extremely strong year It's dynamic and and exactly a prior we to uses, or back. our delicious in when our notably
keep we market. incremental continued pushing exposure further in and opportunities within marketing distribution current space we of will the the drinkable pursuing kefir with brand investments, and increase look to within innovate and awareness the and scope assess products ahead, As channels new our
Kefir, example and Expo positive, An our SKUs we strawberry-banana These opportunity Lifeway's early and from launches. Rainbow at innovation Whole portfolio All recently Lifeway introduced retailers West April. March. illustrated Milk Cherry retail at Kefir. Lifeway taste received we S'mores latest Products products distribution seasonal The our in products and customers by shelves an and some Black increase diversify reactions partners. Guava new and of Organic from kefir, West Expo flavors, to within present within flavor Kefir, Natural Campfire these with to Lowfat were hit Milk along Whole Cake Kefir in extremely of and tests XXXX, Lifeway further expect new Organic is
marketing strategies. potential Forbes, more. including and Fox X billion over on target placements XXX a than features I'll of touch now outlets, media with and XXXX, and impressions. some Resulting Good of Health mindbodygreen, Business, Women's advertising Housekeeping, the more In reach received we in
advertising and benefits campaigns tell Lifeway PR presence the paid story. strong Our the kefir by omnichannel brand is supported that of highlight
conclude a running awareness in our digital sharing look campaign effort and to linear QX, targeted call. combination build CTV, in and both and next broadcast, focused currently markets The English I campaigns of is us trial. end We detail drive integrations a are advertising of forward This help more to Spanish. in the at and
we showcasing experiential path Van program a mentioned, that music, with connect major on to Gogh cities. This Immersive movement level their previously imagination our in wellness. customers, a XX XXXX, marketing I allowed experience, the us provided national artwork in-person deeper opportunities Gogh's for and marketing to As began exhibition with a U.S. lights, late on Van through in
XX media We in impressions, over XXX sampling January wrapped of than million in classes XXXX, organic up total of a paid over X,XXX sessions. more with and yoga campaign the
focused team connect to many shop are is to with and while events us smoothies Lifeway country Lifeway Lifeway smoothies in a variety serving the on visitors will way chilly weather. taste, in from Lifeway a the wide location a busy story now This of We look and Kefir this climate, lots Oat. and experience for May. on give locals warm still in the made now experiencing Cafe Road, Lifeway consumers with sharing rest Miami pop-up until the great chance very of of Kefir Located Miami Lincoln Beach. branded vacationers, is destination Our with a forward to
programs media. Lifeway healthy influencers work when sessions chefs, nutrition and snack across to to the experts look with as to in these prior and X our our retention, in-store customers and significantly as year. channels notable products, brand, up compared and website social and campaigns have the social with introduce items. ideas with We XXXX, recipes to continue to new attract well these we Lifeway digital brand we as followers, Additionally, swaps, partner suggest strengthening new million incentivize now our customer retailers incorporating we to over forward relationships well ingredient are with
some the touch the year. on wins. highlights had X we of Now year, first In of from half operational the big the I'll
in further distribution converting our Lifeway's have from a rotation Costco absence; Lifeway and after a aided growth earning Each regaining our the to First, at branded third, private offerings awareness. label Midwest; products. customer second, market these efforts and fresh X-year enhancing Lion of wins continued Food at
Lifeway its high solid metrics This small-format away new grown strategy presence visibility Since home half been our deals convenience within chain shipping Wawa, channel. announced grocery late with Pratt in from notable are convenience most operations our and we convenience, looking inception, Wawa the we have to far. category. results in into the the chain began win was Pantry, encouraging so increase a distribution the we the a We reflects In the our Northeast. in of an penetration quarter, third prominent year, velocity distribution penetration are our assessing November, into the location. and with traditionally second In with has organ-based as
not non-U.S. I'd business. strategy, though Additionally, on a like to new touch Lifeway's
we also reminder, a business, while Mexico, our to the States As accounts Ireland and nearly France. United for distribute all of
grocery, we our formats. notable, sales year small distribution as recently Mexico we at ahead, France, as in XX.X%. We traditional convenience In opportunities brand the as up and have evaluate further to customers in to front an can. casino secured aim was placements in to with many of In well expand at as our get stores effort relevant name performance and
the record-breaking the This forward flagship has long-term achieving our and committed to momentum investors to and demand XXXX strength to into wonderful of nutritious of short remain foods on and and Lifeway to Kefir. Delivering confidence are growth, in to given growth our probiotic year XXXX, strategic targets. to health summary, ongoing path was us nothing outstanding. believe this and In We our our right mission we more our while profitable the provide our primary of even continuing customers. business furthering improve of well-being the look best-in-class
Thank for look much of XXXX our call forward updates Have you your earnings further more on in Lifeway Foods. very first you growth to all call. our in importantly, today and listening a the quarter for to evening. I and, providing great interest
