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Oct 31, 2023
Mamas Creations Q3 2024 Earnings Report
Reported record revenue and increased net income.
Key Takeaways
Mama's Creations reported a strong third quarter with record revenue of $28.7 million, a 11.5% increase year-over-year, and net income of $2.0 million, an 83.0% increase year-over-year. Gross profit also increased significantly, driven by successful pricing actions and improved efficiencies.
Revenue for the third quarter of fiscal 2024 increased 11.5% to $28.7 million compared to the same period last year.
Gross profit increased 31.6% to $8.6 million, representing 30.1% of total revenues.
Net income for the third quarter of fiscal 2024 increased 83.0% to $2.0 million, or $0.05 per diluted share.
Cash and cash equivalents as of October 31, 2023, were $5.6 million.
Mamas Creations
Mamas Creations
Forward Guidance
The company anticipates further margin enhancement through strategic investments, improved automation, and increased production capacity, positioning them to invest in trade promotion for continued revenue growth.
Positive Outlook
- Opportunities for further margin enhancement in the next fiscal year.
- Leveraging strategic CapEx investments to build new in-house capabilities.
- Improving automation at production facilities.
- Building production capacity to support new tier-1 national customers.
- Promising results from early trade promotion tests with club stores.