Revenue Growth
Revenue increased by 4.1% to $362.6 million, marking a record for Q1, driven by volume and pricing increases.
Frozen Beverages Performance
The Frozen Beverage segment achieved record first quarter results despite foreign exchange headwinds, with a 4% sales increase and a 10% volume increase.
Food Service and Retail Growth
Food Service revenue increased by 4.5%, led by a 4.8% increase in Soft Pretzels and a 9.8% increase in Frozen Novelties. Retail sales increased by 2.2%, driven by volume gains in LUIGI’S and Dogsters.
Operational Improvements
Supply chain initiatives increased capacity and efficiency, reducing average haul length by 12%, improving on-time performance, and decreasing line haul costs by 13% per pound.
New Product Launches
Expansion of Dippin' Dots into 186 additional theater locations and the launch of Dippin' Dots Sundays for Retail in January.
Strong Balance Sheet
The company has $74 million in cash, no long-term debt, and $213 million in borrowing capacity, supporting a $50 million stock repurchase authorization.