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Lifeway Foods (NASDAQ:LWAY) Stock, Option Chain

Lifeway Foods

Lifeway Foods Inc is engaged in manufacturing probiotic, cultured, functional dairy health food products. Its primary product is drinkable kefir which is a cultured dairy product. Its product categories are Drinkable Kefir which is the key revenue-driving product, European-style soft cheeses, Cream, ProBugs, Frozen Kefir and Other dairy. The company manufacture and market products under the Lifeway and Fresh Made brand names, as well as under private labels on behalf of customers. It sells the products primarily through direct sales force, brokers, and distributors.

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Lifeway Foods shares fall after rejecting Danone&#39;s $27 per share acquisition offer, citing undervaluation and prioritizing growth.

What&#39;s Going On With Lifeway Stock After Rejecting Revised Acquisition Offer From Danone?

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Lifeway Foods Inc

Lifeway Foods, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LWAY#NASDAQ">LWAY</a>) shares are trading lower on Wednesday after the company&#8217;s Board of Directors rejected a revised unsolicited <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n42085549/lifeway-foods-rejects-revised-unsolicited-proposal-from-danone" rel="noreferrer noopener">acquisition proposal from </a><a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n42085549/lifeway-foods-rejects-revised-unsolicited-proposal-from-danone" rel="noreferrer noopener">Danone North America PBC</a>.
The proposal on November 15 offered $27.00 per share to acquire all of Lifeway&#8217;s shares that Danone does not already own.
After careful evaluation, including consultations with independent financial and legal advisors, the Lifeway Board determined that the offer significantly undervalued the company and was not in the best interests of Lifeway&#8217;s shareholders or other stakeholders.
According to a recent Schedule 13D amendment filing, Danone beneficially owns approximately&nbsp;23.3%&nbsp;of <a target="_blank" href="https://www.benzinga.com//node/42019636" rel="noreferrer noopener">Lifeway&#8217;s outstanding common stock.</a>
On&nbsp;November 5, 2024, Lifeway announced that its Board had rejected Danone&#8217;s initial unsolicited, non-binding proposal of&nbsp;$25.00&nbsp;per share, citing that it <a target="_blank" href="https://www.benzinga.com//node/41745068" rel="noreferrer noopener">substantially undervalued the company.</a>
Lifeway said it remains committed to its strategic plan of expanding its kefir offerings while also branching into adjacent product categories.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/42085436/target-q3-earnings-supply-chain-chaos-hits-bottomline-slashes-annual-profit-outlook-stock-tanks" rel="noreferrer noopener">Target Q3 Earnings: Supply Chain Chaos Hits Bottomline, Slashes Annual Profit Outlook, Stock Tanks</a>
The company reported growth in its third-quarter 2024 results, achieving its 20th consecutive quarter of growth with double-digit year-over-year revenue growth and improved profit margins.
Lifeway said it generated a total shareholder return of 788% over the past five years, vastly outperforming its food and beverage industry peers and the S&amp;P 500.
In line with its growth momentum, Lifeway has also announced the launch of a new functional beverage: Probiotic Smoothie + Collagen <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n42089631/lifeway-foods-announces-latest-innovation-probiotic-smoothie-collagen" rel="noreferrer noopener">made with kefir cultures. </a>This product comes in four flavors—Matcha Latte, Berry Blast, Tropical Fruit, and Plain—and contains 5 grams of collagen per serving. It is also lactose-free, capitalizing on the growing consumer demand for lactose-free dairy alternatives.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, LWAY stock has gained over 56% in the past year.
Price Action: LWAY shares are trading lower by 5.72% to $23.89 at last check Wednesday.
Photo via Shutterstock
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What's Going On With Lifeway Stock After Rejecting Revised Acquisition Offer From Danone?

Lifeway Foods Announced That Its Board Of Directors Has Rejected The Revised Unsolicited Proposal Made On November 15, 2024 By Danone North America To Acquire All The Shares Of Lifeway That It Does Not Already Own For $27.00 Per Share

Lifeway Foods, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LWAY#NASDAQ">LWAY</a>) ("Lifeway" or the "Company"), a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome, confirmed that it has received a revised, unsolicited, non-binding proposal from Danone North America PBC ("Danone") to acquire all outstanding shares of common stock of Lifeway it does not already own for $27.00 per share in cash. According to the Schedule 13D amendment filed today with the U.S. Securities and Exchange Commission disclosing the revised proposal, Danone beneficially owns approximately 23.3% of Lifeway's outstanding common stock.
On November 5, 2024, Lifeway announced that its Board of Directors (the "Board") had rejected Danone's initial unsolicited, non-binding proposal to acquire all the shares of Lifeway that it does not already own for $25.00 per share because the Board determined that the initial proposal substantially undervalued Lifeway and was not in the best interests of the Company and its shareholders and other stakeholders.
Consistent with its fiduciary duties, Lifeway's board of directors, in consultation with its independent outside advisors, will carefully review and evaluate the revised proposal to determine the course of action that it believes is in the best interests of the Company and its shareholders and other stakeholders.
The Company does not undertake any obligation to provide any updates with respect to this or any other proposal or transaction, except as required under applicable law.
Lifeway shareholders do not need to take any action at this time.
Evercore is serving as a financial advisor to Lifeway and Sidley Austin LLP is serving as legal counsel to Lifeway.

Lifeway Foods Confirms Receipt Of Revised, Unsolicited, Non-Binding Proposal From Danone  To Acquire All Outstanding Shares Of Common Stock Of Lifeway It Does Not Already Own For $27.00 Per Share In Cash

U.S. stocks were lower, with the Dow Jones index falling around 300 points on Friday.
Shares of Despegar.com, Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DESP#NYSE">DESP</a>) rose sharply during Friday's session after the company reported <a href="https://www.benzinga.com/quote/DESP/earnings">better-than-expected third-quarter sales.</a>
The company said it sees FY24 revenue of at least $760 million and adjusted EBITDA of at least $170 million
Despegar.com shares jumped 19.1% to $17.70 on Friday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Bloom Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BE#NYSE">BE</a>) shares jumped 43% to $18.98. Bloom Energy announced a 1 GW fuel cell deal with AEP, providing clean power for AI Data Centers.</li>
<li>Red Cat Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCAT#NASDAQ">RCAT</a>) gained 22.3% to $4.9200.</li>
<li>Intuitive Machines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>) gained 13% to $11.56. The company reported third-quarter results on Thursday.</li>
<li>Century Aluminum Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>) rose 12.6% to $23.77.</li>
<li>COMPASS Pathways plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMPS#NASDAQ">CMPS</a>) jumped 12.5% to $5.50.</li>
<li>Lifeway Foods, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LWAY#NASDAQ">LWAY</a>) gained 11% to $24.85. The company reported quarterly results on Thursday.</li>
<li>Kingsoft Cloud Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KC#NASDAQ">KC</a>) rose 10.3% to $5.13. Kingsoft Cloud Holdings will release its unaudited financial results for the third quarter before the open of U.S. markets on Tuesday, Nov. 19.</li>
<li>Alcoa Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) gained 7.7% to $44.40.</li>
<li>Zai Lab Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZLAB#NASDAQ">ZLAB</a>) shares rose 6.3% to $28.34. The company priced a $200 million public offering of 7,843,137 shares at $25.50 per ADS.</li>
<li>Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) gained 6% to $62.72 after the company announced it will transfer its stock exchange listing over to the Nasdaq.</li>
<li>The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) rose 3% to $112.38. The company reported quarterly results on Thursday.</li>
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<a href="https://www.sec.gov/Archives/edgar/data/814586/000119312524259418/d880074dsc13da.htm" title="https://www.sec.gov/Archives/edgar/data/814586/000119312524259418/d880074dsc13da.htm">https://www.sec.gov/Archives/edgar/data/814586/000119312524259418/d880074dsc13da.htm</a>

Danone North America PBC Sent Second Letter To Lifeway Foods To Express Disappointment In Board's Response To Initial Proposal; Reiterates Danone North America PBC's Strong Commitment To Proposed Transaction; Updated Proposal, Danone North America PBC Increased Offer For Proposed Transaction From $25.00/Share To $27.00/Share

Lifeway Foods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LWAY#NASDAQ">LWAY</a>) reported quarterly earnings of $0.19 per share which missed the analyst consensus estimate of $0.27 by 29.63 percent. The company reported quarterly sales of $46.095 million which missed the analyst consensus estimate of $49.750 million by 7.35 percent. This is a 12.71 percent increase over sales of $40.896 million the same period last year.

Earnings Misses

Lifeway Foods Q3 2024 GAAP EPS $0.19 Misses $0.27 Estimate, Sales $46.095M Miss $49.750M Estimate

Lifeway Foods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LWAY#NASDAQ">LWAY</a>) will release its quarterly earnings report on Thursday, 2024-11-14. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate Lifeway Foods to report an earnings per share (EPS) of $0.27.
The announcement from Lifeway Foods is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Earnings Track Record</h3>
During the last quarter, the company reported an EPS beat by $0.05, leading to a 6.84% increase in the share price on the subsequent day.
Here's a look at Lifeway Foods's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.20</td>
<td>0.24</td>
<td>0.21</td>
<td>0.16</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.25</td>
<td>0.16</td>
<td>0.26</td>
<td>0.23</td>
</tr>
<tr>
<td>Price Change %</td>
<td>7.000000000000001%</td>
<td>-6.0%</td>
<td>9.0%</td>
<td>39.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1731521045_0.png" alt="eps graph" />
<h3>Tracking Lifeway Foods's Stock Performance</h3>
Shares of Lifeway Foods were trading at $24.15 as of November 12. Over the last 52-week period, shares are up 57.14%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<h3>Analyst Views on Lifeway Foods</h3>
For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on Lifeway Foods.
Lifeway Foods has received a total of 1 ratings from analysts, with the consensus rating as Outperform. With an average one-year price target of $25.0, the consensus suggests a potential 3.52% upside.
<h3>Peer Ratings Overview</h3>
This comparison focuses on the analyst ratings and average 1-year price targets of and Mama`s Creations, three major players in the industry, shedding light on their relative performance expectations and market positioning.
<ul>
<li>For Mama`s Creations, analysts project an Buy trajectory, with an average 1-year price target of $10.0, indicating a potential 58.59% downside.</li>
</ul>
<h3>Peer Metrics Summary</h3>
The peer analysis summary offers a detailed examination of key metrics for and Mama`s Creations, providing valuable insights into their respective standings within the industry and their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Lifeway Foods</td>
<td>Outperform</td>
<td>25.30%</td>
<td>$13.28M</td>
<td>5.75%</td>
</tr>
<tr>
<td>Mama`s Creations</td>
<td>Buy</td>
<td>14.49%</td>
<td>$6.88M</td>
<td>5.38%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Lifeway Foods ranks higher than its peers in terms of revenue growth and gross profit. However, it has a lower return on equity compared to its peers. Overall, Lifeway Foods is positioned favorably among its peers based on the provided metrics.
<h3>About Lifeway Foods</h3>
Lifeway Foods Inc is engaged in manufacturing probiotic, cultured, functional dairy health food products. Its primary product is drinkable kefir which is a cultured dairy product. Its product categories are Drinkable Kefir which is the key revenue-driving product, European-style soft cheeses, Cream, ProBugs, Frozen Kefir and Other dairy. The company manufacture and market products under the Lifeway and Fresh Made brand names, as well as under private labels on behalf of customers. It sells the products primarily through direct sales force, brokers, and distributors.
<h3>Key Indicators: Lifeway Foods's Financial Health</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Lifeway Foods's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 25.3% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Consumer Staples sector.
Net Margin: Lifeway Foods's net margin is impressive, surpassing industry averages. With a net margin of 7.7%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Lifeway Foods's ROE stands out, surpassing industry averages. With an impressive ROE of 5.75%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Lifeway Foods's ROA stands out, surpassing industry averages. With an impressive ROA of 4.51%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: With a below-average debt-to-equity ratio of 0.0, Lifeway Foods adopts a prudent financial strategy, indicating a balanced approach to debt management.
<a href="https://www.benzinga.com/quote/LWAY/earnings">To track all earnings releases for Lifeway Foods visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Exploring Lifeway Foods's Earnings Expectations

U.S. stock futures were higher this morning, with the Dow futures gaining around 150 points on Monday.
Shares of Sapiens International Corporation N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPNS#NASDAQ">SPNS</a>) fell sharply in today's pre-market trading after the company reported worse-than-expected <a href="https://www.benzinga.com/quote/SPNS/earnings">third-quarter financial results</a>.
Sapiens Intl posted third-quarter adjusted earnings of 37 cents per share, missing market estimates of 38 cents per share. The company's quarterly sales came in at $137.03 million versus expectations of $140.07 million.
Sapiens International shares dipped 21.5% to $30.98 in the pre-market trading session.
Here are some other stocks moving lower in pre-market trading.
<ul>
<li>Sky Harbour Group Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYH#NASDAQ">SKYH</a>) shares fell 9% to $10.55 in pre-market trading. Sky Harbour will report its third-quarter financial results on Tuesday, Nov. 12.</li>
<li>NuScale Power Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>) shares dipped 5.7% to $23.05 in pre-market trading after gaining 13% on Friday.</li>
<li>Tempus AI, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>) fell 5.2% to $69.85 in pre-market trading after jumping 30% on Friday.</li>
<li>Xeris Biopharma Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XERS#NASDAQ">XERS</a>) dipped 4.9% to $3.30 in pre-market trading. Xeris Biopharma Holdings posted upbeat quarterly results on Friday.</li>
<li>Gold Fields Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFI#NYSE">GFI</a>) declined 4.7% to $15.06 in pre-market trading.</li>
<li>Lifeway Foods, Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LWAY#NASDAQ">LWAY</a>) declined 4.2% to $22.10 in pre-market trading after falling 8% on Friday.</li>
<li>Butterfly Network, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFLY#NYSE">BFLY</a>) fell 3.4% to $2.53 in pre-market trading.</li>
</ul>
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Sapiens International Posts Downbeat Results, Joins Sky Harbour And Other Big Stocks Moving Lower In Monday's Pre-Market Session

Shares of Revelation Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REVB#NASDAQ">REVB</a>) rose sharply in today's pre-market trading after the company reported better-than-expected <a href="https://www.benzinga.com/quote/REVB/earnings">third-quarter EPS results</a>.
Revelation Biosciences a reported quarterly loss of 84 cents per share compared to market estimates of a loss of $2.84 per share.
Revelation Biosciences shares surged 48.8% to $1.22 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>New Horizon Aircraft Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOVR#NASDAQ">HOVR</a>) gained 68.2% to $0.4879 in pre-market trading.</li>
<li>Signing Day Sports, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGN#NYSE">SGN</a>) rose 61.1% to $0.2980 in pre-market trading after gaining around 10% on Friday.</li>
<li>Destiny Tech100 Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXYZ#NASDAQ">DXYZ</a>) gained 27.1% to $46.01 in pre-market trading after jumping 64% on Friday.</li>
<li>UTime Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTO#NASDAQ">WTO</a>) shares rose 18.8% to $0.3791 in pre-market trading.</li>
<li>FOXO Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FOXO#NYSE">FOXO</a>) climbed 17.4% to $0.5824 in pre-market trading after jumping around 35% on Friday.</li>
<li>Autolus Therapeutics plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUTL#NASDAQ">AUTL</a>) gained 17.1% to $4.37 in pre-market trading after the company reported the FDA approval of AUCATZYL&#xAE; (obecabtagene autoleucel – obe-cel) for adults with relapsed/refractory B-cell acute lymphoblastic leukemia (r/r B-A.</li>
<li>Prestige Wealth Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PWM#NASDAQ">PWM</a>) gained 16.5% to $0.98 in pre-market trading. Prestige Wealth announced the acquisitions of InnoSphere Tech and closing of acquisition of Wealth AI.</li>
<li>Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) rose 16% to $314.06 in pre-market trading amid strength in Bitcoin.</li>
<li>MARA Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) gained 15.3% to $22.25 in pre-market trading amid strength in Bitcoin.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Dogwood Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DWTX#NASDAQ">DWTX</a>) shares tumbled 29.7% to $2.98 in pre-market trading.</li>
<li>Jet.AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JTAI#NASDAQ">JTAI</a>) shares fell 13% to $0.0374 in pre-market trading. Jet.AI shares dipped 25% on Friday after the company announced a 1-for-225 reverse stock split.</li>
<li>Heramba Electric plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PITA#NASDAQ">PITA</a>) shares fell 12.3% to $1.07 in pre-market trading.</li>
<li>Li-Cycle Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LICY#NASDAQ">LICY</a>) declined 12.1% to $2.9000 in pre-market trading. Li-Cycle shares fell around 9% on Friday after the company reported third-quarter financial results.</li>
<li>Fresh2 Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRES#NASDAQ">FRES</a>) dipped 11.8% to $1.1200 in pre-market trading.</li>
<li>Conduit Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDT#NASDAQ">CDT</a>) fell 9.7% to $0.0980 in pre-market trading after surging over 13% on Friday.</li>
<li>FutureFuel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FF#NYSE">FF</a>) shares dipped 9.5% to $5.51 in pre-market trading after the company posted a loss for the third quarter.</li>
<li>Simpple Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPPL#NASDAQ">SPPL</a>) fell 9% to $0.9100 in today's pre-market trading after surging around 14% on Friday.</li>
<li>Lifeway Foods, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LWAY#NASDAQ">LWAY</a>) fell 8.8% to $21.01 in pre-market trading. Lifeway Foods will report financial results for the third quarter ended Sept. 30, 2024 on Nov. 14, before the opening bell.</li>
<li>Tempus AI, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>) fell 7.1% to $68.50 in pre-market trading after jumping 30% on Friday.</li>
</ul>
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AUTL

COIN

DWTX

DXYZ

FOXO

FRES

HOVR

JTAI

LICY

MARA

PITA

REVB

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Lifeway Foods, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LWAY#NASDAQ">LWAY</a>) ("Lifeway" or the "Company"), a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome, today announced that its Board of Directors (the "Board") has rejected the unsolicited proposal made on September 23, 2024 by Danone North America PBC ("Danone") to acquire all the shares of Lifeway that it does not already own for $25.00 per share.
After careful and thorough consideration, conducted in consultation with its independent financial and legal advisors, the Board determined that Danone's opportunistic proposal substantially undervalues Lifeway and is not in the best interests of the Company and its shareholders or other stakeholders. In addition, in response to Danone's proposal and its substantial ownership position in the Company, the Board adopted a limited duration shareholder rights plan, effective immediately (the "Rights Plan").

Management

Lifeway Foods Rejects Proposal To Acquire All The Shares Of Lifeway That It Does Not Already Own For $25.00 Per Share From Danone; Adopts Limited Duration Shareholder Rights Plan

According to the Schedule 13D amendment filed yesterday with the U.S. Securities and Exchange Commission disclosing the proposal,&nbsp;Danone beneficially owns approximately&nbsp;23.4%&nbsp;of Lifeway&#39;s outstanding common stock.
Lifeway shareholders do not need to take any action at this time.&nbsp;

Lifeway Foods Confirms Receipt Of $25.00 Per Share Cash, Non-binding Proposal From Danone North America

Noble Capital Markets analyst Joe Gomes downgrades Lifeway Foods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LWAY#NASDAQ">LWAY</a>) from Outperform to Market Perform.

Downgrades

Analyst Ratings

Noble Capital Markets Downgrades Lifeway Foods to Market Perform

Noble Capital Markets analyst Joe Gomes maintains Lifeway Foods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LWAY#NASDAQ">LWAY</a>) with a Outperform and raises the price target from $20 to $25.

Price Target

Noble Capital Markets Maintains Outperform on Lifeway Foods, Raises Price Target to $25

Lifeway Foods, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LWAY#NASDAQ">LWAY</a>) shares are <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading higher on Tuesday.</a>
The company reported second-quarter earnings per share of 25 cents, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40337645/lifeway-foods-announces-record-results-for-the-second-quarter-ended-june-30-2024" rel="noreferrer noopener">beating the analyst consensus of 21 cents.</a>
The company registered net sales of&nbsp;$49.2 million in the quarter under review, up 25.3% year over year, driven by <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">Lifeway Kefir&#8217;s volume growth. </a>Sales outpaced the street view of $45.50 million.
&#8220;Accompanying the very strong, volume-led topline growth, we continued to enhance our profitability profile with solid gross margins and strong net income growth, a testament to the seamless operational execution of our whole Lifeway team,&#8221; commented&nbsp;Julie Smolyansky, President and Chief Executive Officer of Lifeway Foods.&nbsp;
Gross profit as a percentage of net sales was 27.0% for the second quarter ended&nbsp;June 30, 2024. Selling, general and administrative expenses as a percentage of net sales were 15.8% for the second quarter.
&#8220;We are thrilled with our results in the first half of 2024, and will continue to strategically invest behind the Lifeway brand to drive velocities, win new customers and position ourself to deliver more outstanding performances through the second half of this year and beyond,&#8221; Smolyansky added.
The company exited the quarter with cash and equivalents worth $14.6 million. Inventories, at the end of the quarter, stood at $8.454 million.
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In another development, son and mother&nbsp;Edward and Ludmila Smolyansky, significant shareholders of Lifeway Foods, announced filing a consent statement with the U.S. Securities and Exchange Commission, marking the launch of their &#8220;Life Back to Lifeway&#8221; campaign.
The campaign seeks to replace the health food company&#8217;s current Board, including CEO&nbsp;Julie Smolyansky.
Lifeway Foods was founded by&nbsp;Michael Smolyansky&nbsp;in 1986. When Michael passed away in 2002, his children Julie and Edward took over leadership.
&#8220;Under my sister Julie&#8217;s authority, Lifeway has been on autopilot for far too long, missing critical market opportunities due to a lack of strategic vision,&#8221; said&nbsp;Edward Smolyansky, former COO of Lifeway Foods.&nbsp;
Earlier in 2022, Lifeway Foods entered an agreement with Edward and Ludmila Smolyansky, who agreed to withdraw their director nominations.
Ludmila Smolyansky, co-founder and former Chairperson of Lifeway Foods, added, &#8220;The company, started by my husband and me in 1986, needs a fresh direction that honors its legacy while securing its future. A new path forward will benefit everyone — our employees, our shareholders, and even my daughter Julie.&#8221;
<a href="https://www.benzinga.com//node/39886263">According to a July press release</a>, Ludmila and Edward Smolyansky beneficially owned approximately 29% of the outstanding common stock of Lifeway Foods and urged immediate termination of Julie Smolyansky&#8217;s &#8220;Chief of Staff&#8221; and spouse, Jason Burdeen, a former jeweler.
Price Action: LWAY shares are trading higher by 47.1% to $16.49 at last check Tuesday.
Photo via Shutterstock
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Family Feud Heats Up: Lifeway Foods Soars Amid Earnings Beat and Smolyansky Power Struggle

WIIM

Lifeway Foods shares are trading higher after the company reported better-than-expected Q2 financial results.

Lifewat Foods Shareholders, Edward And Ludmila Smolyansky, File Constent Statement To Launch "Life Back To Lifeway" Campaign; To Replace Board Of Directors Including CEO Julie Smolyansky

Lifeway Foods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LWAY#NASDAQ">LWAY</a>) reported quarterly earnings of $0.25 per share which beat the analyst consensus estimate of $0.20 by 25 percent. This is a 19.05 percent increase over earnings of $0.21 per share from the same period last year. The company reported quarterly sales of $49.16 million which beat the analyst consensus estimate of $45.50 million by 8.04 percent. This is a 25.30 percent increase over sales of $39.23 million the same period last year.

Earnings Beats

Lifeway Foods Q2 EPS $0.25 Beats $0.21 Estimate, Sales $49.16M Beat $45.50M Estimate

Lifeway Foods Shareholders Ludmila And Edward Smolyansky Demand Board And CEO Resign

Lifeway Foods, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LWAY#NASDAQ">LWAY</a>) (&quot;Lifeway&quot; or &quot;the Company&quot;), a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome, today announced that the Company has been included in the&nbsp;Russell&nbsp;2000&reg; and&nbsp;Russell&nbsp;3000&reg; Indexes, as part of the annual reconstitution of the&nbsp;Russell&nbsp;stock indexes, effective at the open of&nbsp;U.S. equity markets on&nbsp;July 1, 2024.

Government

Regulations

Reported Earlier, Lifeway Foods Joins Russell 2000 Index

Pure Culture Organics Announces Victory As Lifeway Foods Dismisses Lawsuit; PCO To Focus On New Product Developments Including Kids Kefir And Collagen-Enhanced Pouches; Launching New Kefir Flavors

Lifeway Foods, Inc. (LWAY) Q3 2024 Earnings Call Transcript

In a report released today, Joe Gomes from Noble Financial maintained a Hold rating on Lifeway Foods (LWAY – Research Report). The company's shares...

Noble Financial Sticks to Their Hold Rating for Lifeway Foods (LWAY)

Lifeway Foods jumps as Danone boosts offer to $27 a share

In a letter updating on Danone's (DANOY) proposed acquisition of Lifeway Foods (LWAY), which was disclosed in a regulatory filing, Danone stated th...

Danone raises offer for Lifeway Foods to $27 per share

Lifeway Foods (LWAY) confirmed that it has received a revised, unsolicited, non-binding proposal from Danone North America (DANOY) to acquire all o...

Lifeway Foods confirms $27.00 per share buyout proposal from Danone

Lifeway Foods jumps as Danone boosts offer to $27 a share (update)

Lifeway Foods (LWAY) announced that its Board of Directors has rejected the revised unsolicited proposal made on November 15 by Danone North Americ...

Lifeway Foods rejects revised unsolicited proposal from Danone

Lifeway Foods rejects increased $27 a share bid from Danone

Lifeway Foods ( ($LWAY) ) has issued an announcement. Lifeway Foods, Inc., a leader in probiotic and fermented products, has rejected Danone North ...

Lifeway Foods Rejects Danone's Revised Acquisition Offer

In a report released today, Ben Klieve from Lake Street maintained a Buy rating on Lifeway Foods (LWAY – Research Report), with a price target of $...

Lifeway Foods (LWAY) Receives a Buy from Lake Street

DANOY

Press Releases

Lifeway Foods Confirms Receipt of Unsolicited, Non-Binding Proposal from Danone

Lifeway Foods® Introduces 10 New, Hot and On-Trend Organic Kefir Flavor Fusions to its Single Serve Lineup

LIFEWAY FOODS REJECTS PROPOSAL FROM DANONE AND ADOPTS LIMITED DURATION SHAREHOLDER RIGHTS PLAN

Lifeway Foods® Announces Expanded Kefir and Farmer Cheese Distribution Deal in Dubai and U.A.E.

Small Cap

Edward and Ludmila Smolyansky Support Danone Bid to Acquire Lifeway Foods (NASDAQ: LWAY)

Lifeway Foods® to Report Third Quarter 2024 Results on November 14, 2024

Lifeway Foods® Announces Strong Results for the Third Quarter and Nine Months Ended September 30, 2024

LIFEWAY FOODS CONFIRMS RECEIPT OF REVISED, UNSOLICITED, NON-BINDING PROPOSAL FROM DANONE

LIFEWAY FOODS REJECTS REVISED UNSOLICITED PROPOSAL FROM DANONE

Lifeway Foods® Announces Latest Innovation: Probiotic Smoothie + Collagen

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