Lifeway Foods, Inc. (NASDAQ:LWAY) Q3 2023 Earnings Call Transcript

Orders will begin shipping in Q4. On the last call, we announced distribution at roughly 140 CVS locations, our first partnership with them, where we placed and premium tests in their West Coast stores. As we alluded to, we don’t expect this to be a large volume driver. But that said, we are quite excited to be placed in the front of traffic that a store like CVS draws. We also continued to perform solidly at Wawa and are maintaining consistent unit moving slightly above the initial velocity upon our introduction in late 2022. Lastly, we continue to maintain our strong relationships with key retail partners and we’ll continue to seek out incremental distribution opportunities across a variety of channels that make sense for all great products we have to offer.

Specifically, we believe there are still plenty of distribution opportunities for our top-performing kefir flavors, ProBugs and Farmer Cheese. To wrap up this call, I would like to once again highlight the third quarter marked incredible record-breaking results. Our core products continue to excel while our team continues to deliver operating discipline and enhanced profitability. I believe we have the right team in place to maintain this positive momentum going forward and I’m excited to finish off 2023 strong as we continue our mission to provide best-in-class probiotic and nutritious food to improve the health and well-being of our customers. Thank you all very much for listening to the call today and, of course, for your interest in Lifeway Foods.

We look forward to updating you on our progress and momentum in 2023 year-end call and in the New Year. Let me be the one of the first to wish you a happy holiday season and I hope you have a great day.

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