MamaMancini’s Holdings, Inc. (NASDAQ:MMMB) Q3 2023 Earnings Call Transcript

Operator: . Our next question comes from the line of Chris McCampbell with Raymond James. Please proceed with your question.

Chris McCampbell: Congrats on the quarter, Adam. With the color on orders that you’ve given for the fourth quarter and continual improvements in cost, could you expect a sequential growth in earnings for the fourth quarter?

Adam Michaels: Yes. So I think the fourth quarter, just first of all, is historically a softer quarter on the top line. So it’s a little bit of seasonality. We do feel good. We continue to grow customers. So I do feel that we’re going to be able to achieve our goals of this $100 million run rate. So I feel good on the top line. Bottom line, I feel equally as good. So we mentioned earlier a number of price increases. They’re actually more coming in January that have already been sold in. Matt and his team’s doing an amazing job from an operational standpoint. Freight, incredible. We hired a new person, a new woman in freight and she’s really doing an incredible job, more than 100 basis points of improvement already in freight.

Matt mentioned the overtime and the labor improvements. So I actually still think we’re still staying in line with what we said, which is mid 20s gross margins and high single digits for — probably mid to high single digits for the bottom line. I think we could continue to do that. We’re seeing — like I said earlier, I see more opportunity ahead than I do behind.

Chris McCampbell: Okay. Thanks, again. Great job.

Adam Michaels: Thank you.

Operator: There are no further questions in the queue. I’d like to hand the call back over to Adam Michaels for closing remarks.

Adam Michaels: Thank you, operator, and thank you again to each of you for joining us on today’s earnings conference call. We look forward to continuing to update you on our progress as we strive to deliver value to our shareholders and execute upon our vision of a national one-stop shop deli solution provider. Happy holidays to all. Thank you.

Operator: Ladies and gentlemen, this does conclude today’s teleconference. Thank you for your participation. You may disconnect your lines at this time, and have a wonderful day.