Event coincides with recently announced
projections for record Q4 2024 and Full Year 2024 net sales
MORTON
GROVE, Ill., Jan. 30,
2025 /PRNewswire/ -- Lifeway Foods,
Inc. (Nasdaq: LWAY), the leading U.S. supplier of kefir and
fermented probiotic products, will ring the closing bell at
the Nasdaq MarketSite in Times Square, New York City on Monday, February 3, 2025. The company previously
announced unaudited preliminary fourth quarter net sales between
$45.1 million to $46.6 million and full year 2024 preliminary
unaudited net sales projected to range between $185.0 million and $186.5
million compared to $160.1
million in 2023. These results as well as business and
philanthropic milestones underscore the company's strong business
execution and continued contributions to health, community and
innovation.
"We are honored to ring the Nasdaq closing bell as we mark the
continued growth of our business and strength of the Lifeway
brand," said Lifeway President and CEO Julie Smolyansky. "We project that when we
report our fully audited results for the fourth quarter of 2024, it
will mark the twenty-first consecutive fiscal quarter of
year-over-year topline growth and a record year for
Lifeway."
"Congratulations to Illinois'
own Lifeway Foods on closing today's Nasdaq stock market," said
Governor JB Pritzker. "I'm thankful for their ongoing impact
throughout the State of Illinois—bringing jobs, investments, and
success to our thriving business community. I look forward to
seeing their continued growth in the nutrition industry."
Lifeway has built its business over nearly four decades by
producing healthy products that are highly popular with consumers,
while also serving the communities in which its customers and
business partners live. In light of the recent devastating
wildfires in Los Angeles, Lifeway
has also taken action to support those affected by the crisis.
The company has mobilized resources to provide essential
nourishment to first responders and families in need, contributed
to several fundraisers including Bethenny Frankel's BStrong,
Chicago Chefs Cook for LA in partnership with over 70 top
Chicago restaurants and chefs,
Erewhon +Cares and more, demonstrating its unwavering commitment to
communities in times of crisis.
"We are grateful for the support of our customers, board,
partners and employees who have made this journey possible,"
Smolyansky added. "This achievement is a testament to the hard work
and dedication of the entire Lifeway team, as well as the loyalty
of its consumers. The growth reflects not only Lifeway's commitment
to delivering high-quality, nutritious products but also our
ability to adapt and thrive in a competitive market. As we
celebrate these milestones, we remain focused on our mission to
inspire healthier lifestyles through our products and our community
initiatives."
About Lifeway Foods, Inc.
Lifeway Foods, Inc., which has been recognized as one of Forbes'
Best Small Companies, is America's leading supplier of the
probiotic, fermented beverage known as kefir. In addition to its
line of drinkable kefir, the company also produces a variety of
cheeses and a ProBugs line for kids. Lifeway's tart and tangy
fermented dairy products are now sold across the United
States, Mexico, Ireland, South Africa, United
Arab Emirates and France. Learn how Lifeway is good for
more than just you at lifewayfoods.com.
Forward-Looking Statements
This press release contains "forward-looking statements" as defined
in the Private Securities Litigation Reform Act of 1995 regarding,
among other things, Lifeway's outlook, expected manufacturing
efficiencies and fixed cost absorption, expectations regarding
future operating and financial performance, future business
strategy and objectives and expected shipping
to Dubai and the United Arab
Emirates. These statements use words, and variations of words, such
as "will," "continue," "build," "future," "increase," "drive,"
"believe," "look," "ahead," "confident," "deliver," "outlook,"
"expect," and "predict." You are cautioned not to rely on these
forward-looking statements. These forward-looking statements are
made as of the date of this press release, are based on current
expectations of future events and thus are inherently subject to a
number of risks and uncertainties, many of which involve factors or
circumstances beyond Lifeway's control. If underlying assumptions
prove inaccurate or known or unknown risks or uncertainties
materialize, actual results could vary materially from Lifeway's
expectations and projections. These risks, uncertainties, and other
factors include: price competition; the decisions of customers or
consumers; the actions of competitors; changes in the pricing of
commodities; the effects of government regulation; possible delays
in the introduction of new products; and customer acceptance of
products and services. A further list and description of these
risks, uncertainties, and other factors can be found in Lifeway's
Annual Report on Form 10-K for the fiscal year ended December
31, 2023 and Quarterly Report on Form 10-Q for the quarter
ended September 30, 2024. Copies of these filings are
available online
at https://www.sec.gov, http://lifewaykefir.com/investor-relations/, or
on request from Lifeway. Lifeway expressly disclaims any obligation
to update any forward-looking statements (including, without
limitation, to reflect changed assumptions, the occurrence of
anticipated or unanticipated events or new information), except as
required by law.
Contacts:
Perceptual Advisors
Dan Tarman
Email: dtarman@perceptualadvisors.com
Derek Miller
Vice President of Communications, Lifeway Foods
Email: derekm@lifeway.net
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SOURCE Lifeway Foods, Inc.
