earnings
confidence high
sentiment negative
materiality 0.80
Vita Coco Q1 sales up 28% to $96M, gross margin falls to 20%, FY2022 EBITDA guidance cut to $27-32M
Vita Coco Company, Inc.
2022-Q1 EPS reported
$0.04
revenue$96,448,000
- Q1 net sales $96M (+28% YoY); net income $2M ($0.04 diluted EPS) vs $2M ($0.03) prior year.
- Gross margin fell to 20% from 32% on higher transportation costs; Adjusted EBITDA loss $3M vs +$6M prior year.
- FY 2022 net sales guidance reaffirmed at $440-455M (16-20% growth); Adjusted EBITDA guidance revised to $27-32M.
- Vita Coco coconut water brand value share rose to 50% (up 7pp); household penetration up 170bps to 11%.
- Company plans further price increases in H2 2022 to offset transportation cost pressures.