Suja Life Misses on EPS, Cuts 2026 Outlook to $351–354 Million

Suja Life (NASDAQ:SUJA) reported a loss of $0.22 per share for its third quarter on Tuesday, missing analyst consensus estimates of a $0.13 loss by $0.09. Quarterly revenue came in at $76.37 million, and by the close of trading the stock had fallen $0.45 to $9.97.

What drove the quarter?

Net sales rose 3.3% to $76.4 million, ahead of the company's August outlook, and Suja gained share in the natural healthy beverages category. The results included roughly $2 million of shipments pulled forward from the fourth quarter.

Growth concentrated in select products and channels:

• Refreshers sales increased more than 40%
• Club sales grew nearly 20%
• Convenience sales rose more than 40% from a small base
• Distribution expanded nearly 10%, though average sales per placement declined

The takeaway: top-line momentum is real, but velocity per store is slipping even as shelf presence widens.

Why did the company cut guidance?

Management lowered its 2026 outlook to $351–354 million in net sales and $68–70 million in adjusted EBITDA. The cut reflects worsening grocery conditions and no expected fourth-quarter step-up. Management also expects a slower start to 2027, with growth below the company's long-term algorithm before improving as new programs and products reach shelves.

Profitability told a split story. Adjusted EBITDA increased $9.6 million year over year to $10.5 million, helped largely by lower marketing costs versus last year's Slice launch spending. Gross margin fell to 43.9% from 46.3%, pressured by higher promotions, lower production-volume absorption, and freight and packaging costs.

In plain terms: Suja spent less to sell more, but each unit sold earned less.

What did the refinancing accomplish?

An August refinancing cut Suja's effective interest rate to 5.7% from 9.7% at year-end 2025. Quarterly interest expense declined to $3.3 million from $7.6 million a year earlier. The company added no leverage in the transaction.

How did the stock and analysts respond?

Shares traded down $0.45 on volume of 211,875, versus an average of 431,371. The stock has ranged from a 12-month low of $5.59 to a high of $18.48, and its 50-day simple moving average sits at $9.88. The balance sheet shows a debt-to-equity ratio of 0.86, a quick ratio of 0.96 and a current ratio of 1.53.

Recent analyst actions diverged sharply:

• Goldman Sachs reiterated a "buy" rating on August 5
• Roth Capital initiated coverage with a "buy" and a $20.00 price objective on October 2
• William Blair downgraded from "outperform" to "market perform" on August 5
• Needham & Company started coverage with a "hold" rating on October 15
• Weiss Ratings reaffirmed a "sell (e-)" rating on November 3

Overall, one analyst rates the stock Strong Buy, three rate it Buy, three Hold and one Sell. MarketBeat data shows a consensus rating of "Moderate Buy" and a consensus price target of $25.00.

Who is buying the stock?

Major shareholder Schwartz Food Chain Fund Paine purchased 233,624 shares on August 26 at an average cost of $9.59, a total of $2,240,454.16. The purchase lifted the insider's position by 2.24% to 10,677,629 shares valued at $102,398,462.11. Over the last 90 days, insiders bought 1,954,891 shares worth $16,672,117.

Institutional investors also moved in. Citadel Advisors LLC opened a new position in the second quarter worth approximately $8,294,000. State Street Corp bought in for $607,000, Readystate Asset Management LP for about $305,000, and Brighton Jones LLC for $108,000. CenterBook Partners LP raised its stake 169.8% in the third quarter, adding 47,427 shares to reach 75,364 shares valued at $732,000.

Suja Life produces organic, non-GMO beverages, including cold-pressed juices, wellness shots and functional drinks sold under the Suja Organic brand, primarily through U.S. grocery, mass retail, natural-food and e-commerce channels.