Vita Coco Q1 net income doubles to $14M ($0.24 EPS); raises FY guidance to $500-510M revenue

Vita Coco Company, Inc.

2024-Q1 EPS reported $0.24 revenue$111,698,000

Net sales $112M (+2% YoY); gross margin 42.2% vs 30.7% a year ago.
Net income $14M ($0.24 diluted EPS) vs $7M ($0.12) in Q1 2023.
Adjusted EBITDA $21M vs $9M; company raised FY 2024 Adjusted EBITDA guidance to $76-82M.
Cash $123M, no debt; $10M of shares repurchased under $40M buyback program through Mar 31.
Management cites lower transportation costs and higher net pricing for margin expansion.

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 0.99

Vita Coco Company, Inc. reported the first quarter ended March 31, 2024 results: revenue $112 million, net income $14 million, EPS $0.24 per diluted share. Guidance raised.

Period: the first quarter ended March 31, 2024
Revenue: $112 million
Net income: $14 million
EPS: $0.24 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 2024 Financial Results First Quarter Net Sales Increased 2% to $112 million With Vita Coco Coconut Water Growth of 1% First Quarter Net Income Increased $8 million to $14 million and First Quarter Non-GAAP Adjusted EBITDA 1 Increased $12 million to $21

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Source: SEC EDGAR

accession 0001482981-24-000060

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