Vita Coco Q3 net sales up 11% to $138M; gross margin 41%; raises FY guidance, $40M buyback

Vita Coco Company, Inc.

2023-Q3 EPS reported $0.68 revenue$387,468,000

Q3 net sales $138M (+11% YoY); net income $15M ($0.26 EPS) vs $7M ($0.13) prior year.
Gross margin 41%, up from 26% YoY, driven by lower transport costs and branded pricing.
Adjusted EBITDA $27M in Q3, more than double prior-year $12M.
Raises FY2023 guidance: net sales growth 13-15% (prev 10-12%), Adj. EBITDA $64-67M (prev $56-60M).
Board approved $40M share repurchase program.

item 2.02 item 8.01 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 third quarter ended September 30, 2023 results: revenue $138 million, net income $15 million, EPS $0.26 per diluted share. Guidance raised.

Period: the third quarter ended September 30, 2023
Revenue: $138 million
Net income: $15 million
EPS: $0.26 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

brands, today announced financial results for the third quarter ended September 30, 2023. Third Quarter 2023 Highlights Compared to Prior-Year Period • Net sales grew by 11% to $138 million driven by strong 8% net sales growth and 5% volume growth of Vita Coco Coconut Water which continues to be the largest contributor to growth on a consolidated basis. • Gross

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Vita Coco Company, Inc. reported the nine months ended September 30, 2023 results: revenue $387 million, net income $40 million, EPS $0.68 per diluted share. Guidance raised.

Period: the nine months ended September 30, 2023
Revenue: $387 million
Net income: $40 million
EPS: $0.68 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

$15 million due to improvements in gross profit partially offset by increased SG&A spending. 2023 Year-To-Date Highlights Compared to Prior-Year Period • Net sales grew 15% to $387 million driven by strong 16% net sales growth and 13% volume growth of Vita Coco Coconut Water which continues to be the largest contributor to growth on a consolidated basis. • Gross

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Vita Coco Company, Inc. filing history →

Source: SEC EDGAR

accession 0001482981-23-000101

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