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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Lifeway Foods
Lifeway Foods (LWAY) investor relations material
Lifeway Foods Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary12 Nov, 2026
Executive summary
Record Q3 net sales were $67.797M, up 18.6% YoY and marking the 28th consecutive quarter of growth; 9M sales rose 25.8% to $197.702M.
Q3 net income fell to $260K from $3.529M, and gross margin declined to 18.0% from 28.7% amid elevated input costs.
2026 net sales are expected to exceed the 2025 record of $212.5M.
Ranked No. 45 on Fortune’s 2026 list of America’s 100 fastest-growing companies.
Financial highlights
Q3 gross profit was $12.164M versus $16.408M; operating income was $1.085M versus $5.040M.
9M net income was $5.061M versus $11.318M; operating income was $8.010M versus $12.409M.
Q3 diluted EPS was $0.02 versus $0.23; 9M diluted EPS was $0.33 versus $0.74.
9M operating cash flow was $4.937M versus $10.681M; investing cash outflow was $22.324M, primarily reflecting facility expansion and modernization.
Outlook and guidance
Q4 gross margin is expected between Q2 and Q3 levels; milk costs are expected higher than Q3, with packaging, ingredient and transportation costs remaining elevated.
Portfolio price increases begin rolling out in Q4 2026, with some customer increases taking effect in Q1 2027; pricing and Waukesha productivity are expected to support 25%+ gross margins.
Waukesha increased-scale manufacturing and packaging are expected to begin in Q1 2027, with project completion expected in Q2; line speed is expected to more than double from 200 bottles per minute.
Capacity constraints are expected to persist in Q4 and slightly into Q1 2027; most of 2027 is expected to operate at full capacity, serving pent-up demand and supporting distribution growth.
Pricing actions and productivity gains are expected to improve profitability in 2027; management sees record-setting potential but gave no quantified growth forecast.
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Latest events from Lifeway Foods
- Record net sales and ongoing growth offset by margin pressure from higher input costs.LWAY
Q2 2026 - All proposals passed, with strong growth, innovation, and expanded distribution highlighted.LWAYAGM 2026
- Shareholders will vote on eight board nominees, including Jason Scher, and key annual proposals.LWAYProxy filing
- Record $63M sales and 32% net income growth, driven by kefir, innovation, and margin gains.LWAYQ1 2026
- Proxy covers director elections, auditor ratification, and executive pay, highlighting governance and ESG.LWAYProxy filing
- Votes will be cast on board elections, auditor ratification, and executive pay at the 2026 meeting.LWAYProxy filing
- Record sales and profit growth, margin expansion, and innovation drive strong 2026 outlook.LWAYQ4 2025
- Q3 2024 sales up 12.7%, net income $3M, global expansion, and Danone bid rejected.LWAYQ3 2024
- Q2 net sales rose 25.3% to $49.2M, net income hit $3.8M, and all debt was repaid.LWAYQ2 2024
Next Lifeway Foods earnings date
Q4 202615 Mar, 2027
Lifeway Foods
Next Lifeway Foods earnings date
Q4 202615 Mar, 2027
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Frequently asked questions
Lifeway Foods Inc., also known as Lifeway, is a company that specializes in the manufacture and distribution of dairy and probiotic products, with a particular focus on kefir. The company's product lineup includes drinkable kefir in various forms, such as organic and non-organic, in different flavors and types. Additionally, Lifeway offers European-style soft cheeses, cream and other dairy products, ProBugs (a line of kefir products designed for children), drinkable yogurt, and fresh-made butter and sour cream. These products are marketed under the Lifeway, Glen Oaks Farms, and Fresh Made brand names, as well as under private labels on behalf of customers. Lifeway Foods is headquartered in Morton Grove, Illinois, and its shares are listed on the Nasdaq.