Lifeway Foods Announces Results for the Fourth Quarter and Record Full Year Ended December 31, 2022.
MORTON GROVE, Ill: Lifeway Foods, Inc. (Nasdaq: LWAY) ("Lifeway" or "the Company"), a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome, today reported financial results for the fourth quarter and full year ended December 31, 2022.
"Culminated by our thirteenth straight quarter of year-over-year topline growth, I am thrilled to report the highest recorded year of sales in Lifeway's history, up 18.9% compared to a very strong year in 2021, and up 51.1% when compared to 2019," commented Julie Smolyansky, President and Chief Executive Officer of Lifeway Foods. "What we accomplished in 2022 was a remarkable feat, reflecting our team's year-round execution of the Lifeway 2.0 strategy, and driven by the continued dominance of our core Lifeway Kefir product. Throughout 2022 we strategically invested behind our core products to expand awareness and drive velocities, and our efforts clearly paid dividends. Despite facing broader macro headwinds that affected our industry, our premium, better-for-you offerings grew in both consumption and dollars. In the year ahead, we aim to assess further distribution opportunities in current and new channels such as convenience, where we have seen positive initial results. We will look to pursue incremental brand awareness and exposure for our category-leading, core Lifeway Kefir...
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