Vita Coco Q1 net sales +14% to $110M; raises FY23 guidance on margin recovery

Vita Coco Company, Inc.

2023-Q1 EPS reported $0.12 revenue$109,759,000

Net income of $7M ($0.12 diluted EPS) vs $2M ($0.04) a year ago; Adj. EBITDA of $9M vs -$3M.
Gross margin improved to 30.7% from 19.8% on lower transportation costs and pricing actions.
Vita Coco Coconut Water volumes +15% CE; net sales +17% driven by mid-teens volume growth.
FY23 outlook raised: net sales growth 9-12% (prev. 9-11%); Adj. EBITDA $54-59M (prev. $52-58M).
Cash balance $29M, no revolver borrowings; inventories down to $64M from $84M at year-end.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Vita Coco Company, Inc. reported the three months ended March 31, 2023 results: revenue $110 million, net income $7 million, EPS $0.12 per diluted share. Guidance raised.

Period: the three months ended March 31, 2023
Revenue: $110 million
Net income: $7 million
EPS: $0.12 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

as expressly set forth in such filing. --- EX-99.1 (EX-99.1) --- THE VITA COCO COMPANY REPORTS FIRST QUARTER 2023 FINANCIAL RESULTS First Quarter Net Sales Increased 14% to $110 million Driven by Vita Coco Coconut Water Growth of 17% on Strong Mid-teens Volume Growth First Quarter Gross Margin of 31% Improving from 20% in the Prior Year First Quarter First

View on SEC.gov

Browse all earnings releases →

Vita Coco Company, Inc. filing history →

Source: SEC EDGAR

accession 0001482981-23-000043

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.