Laird Superfood stock slides after earnings fail to meet expectations

BOULDER — While Laird Superfood Inc. (NYSE American: LSF) improved its year-over-year financial performance in fiscal 2024, the company’s fourth-quarter 2024 earnings fell below analysts projections, causing Laird’s stock price to tumble Thursday in early trading. 

At 12:15 p.m. Thursday, Laird’s stock price was $6.18, down more than 14% on the day.

In the fourth quarter of 2024, the company grew its sales by 26% compared with the same period in 2023, to $11.6 million.

But Laird turned a modest $100,000 profit in the fourth quarter of 2023 into a loss of $400,000, or 4 cents per share in the most-recent quarter. Zacks Consensus Estimate was a loss of 2 cents per share.

For the full 2024 fiscal year, Laird posted sales of $43.3 million, up 27% from 2023. The company cut its $10.2 million net loss in 2023 to a net loss of $1.8 million last year.

“I am thrilled to share that 2024 was, by far, the best performance for Laird Superfood as a public company. In the last twelve months, we achieved significant growth across our product lines and all sales channels, our highest gross margins ever, and positive cash flow for the first time in company history,” Laird CEO Jason Vieth said in a prepared statement. “These results are especially impressive when considering the turnaround that we executed over the past two years and are the direct result of the passion and dedication of our team of founders and employees. We are clearly on-trend with the broad consumer desire to eat better, more wholesome, and functional foods, and we are poised for continued expansion across products, channels, and geographies.”

Looking ahead, Laid projects sales growth of 20% to 25% for fiscal 2025.

on Facebook on LinkedIn