Vital Farms, Inc. reported the first quarter ended March 29, 2026 results: revenue $187.2 million, net income Net Loss of $1.5 million, EPS Net Loss per Diluted Share of $0.03. Guidance lowered.
“Vital Farms (Nasdaq: VITL), a Certified B Corporation that offers a range of ethically produced foods nationwide, today reported financial results for its first quarter ended March 29, 2026. Financial highlights for the first quarter ended March 29, 2026, compared to the first quarter ended March 30, 2025, include: • Net Revenue increased 15.4% to $187.2 million, compared to $162.2 million • Gross Margin of 28.3%, compared to 38.5% • Net Loss of $1.5 million, compared to Net Income of $16.9 million • Net Loss per Diluted Share of $0.03, compared to Net Income per Diluted Share of $0.37 • Adjusted EBITDA of $5.0 million, compared to $27.5 million”
Restructurings & Charges
Vital Farms, Inc. announced a restructuring affecting butter product offerings.
“On May 1, 2026, management of the Company elected to wind down and discontinue its butter product offerings to focus on its core egg product categories, with such discontinuation expected to be substantially completed by the end of fiscal 2026.”
Kathryn McKeon was appointed as Chief Marketing Officer and General Manager, Butter at Vital Farms, Inc..
“On January 16, 2025, Vital Farms, Inc. (the “ Company ”) announced the appointment of Peter Pappas, the Company’s current Chief Sales Officer, as Chief Sales Officer and President, Eggs and Kathryn McKeon, the Company’s current Chief Marketing Officer, as Chief Marketing Officer and General Manager, Butter, in each case effective as of January 1, 2025.”
Peter Pappas was appointed as Chief Sales Officer and President, Eggs at Vital Farms, Inc..
“On January 16, 2025, Vital Farms, Inc. (the “ Company ”) announced the appointment of Peter Pappas, the Company’s current Chief Sales Officer, as Chief Sales Officer and President, Eggs and Kathryn McKeon, the Company’s current Chief Marketing Officer, as Chief Marketing Officer and General Manager, Butter, in each case effective as of January 1, 2025.”
Jason Dale departed as Chief Operating Officer at Vital Farms, Inc..
“As previously announced, Jason Dale, the Company’s current Chief Operating Officer and principal operating officer, will step down on August 31, 2024.”
Joe Holland was appointed as Chief Supply Chain Officer at Vital Farms, Inc..
“On August 14, 2024, the Board of Directors (the “ Board ”) of Vital Farms, Inc. (the “ Company ”) appointed Joe Holland as Chief Supply Chain Officer and principal operating officer of the Company, effective on or about September 1, 2024 (the “ Start Date ”).”
Earnings Releases
Vital Farms, Inc. reported first quarter ended March 31, 2024 results: revenue $147.9 million, net income $19.0 million, EPS $0.43. Guidance raised.
“Vital Farms Reports First Quarter 2024 Financial Results Record First Quarter Net Revenue of $147.9 million, up 24.1% versus Prior Year Period Raises Fiscal Year 2024 Outlook”
Debt Financings
Vital Farms, Inc. incurred revolving credit of $60.0 million with JPMorgan Chase Bank, N.A. at adjusted term Secured Overnight Financing Rate or adjusted daily Secured Overnig maturing five years.
“On April 9, 2024, Vital Farms, Inc. (the “Company”) entered into a credit agreement with the other loan parties party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent, which provides for a five-year $60.0 million senior secured revolving credit facility (the “2024 Credit Facility”).”
Material Agreements
Vital Farms, Inc. terminated previous $20.0 million revolving credit and term loan facility entered into on October 4, 2017 with PNC Bank, National Association with PNC Bank, National Association valued at $20.0 million (effective 2024-04-09).
“The 2024 Credit Facility replaced the Company’s previous $20.0 million revolving credit and term loan facility entered into on October 4, 2017 with PNC Bank, National Association, which terminated concurrently with the establishment of the 2024 Credit Facility.”
Material Agreements
Vital Farms, Inc. entered into 2024 Credit Facility with JPMorgan Chase Bank, N.A., as administrative agent valued at $60.0 million senior secured revolving credit facility (effective 2024-04-09).
“On April 9, 2024, Vital Farms, Inc. (the “Company”) entered into a credit agreement with the other loan parties party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent, which provides for a five-year $60.0 million senior secured revolving credit facility (the “2024 Credit Facility”).”
Jeffery Dawson resigned as Chief Accounting Officer at Vital Farms, Inc..
“On April 4, 2024, the Company accepted the resignation of Jeffery Dawson, the Company’s Chief Accounting Officer and principal accounting officer, and entered into a transition agreement, pursuant to which Mr. Dawson will transition his responsibilities and cease serving as the Company’s Chief Accounting Officer and principal accounting officer effective April 19, 2024.”
Jason Dale changed role as Chief Operating Officer at Vital Farms, Inc..
“On April 3, 2024, Vital Farms, Inc. (the “ Company ”) entered into a transition agreement (the “ COO Transition Agreement ”) with Jason Dale, the Company’s Chief Operating Officer and principal operating officer, pursuant to which Mr. Dale will transition into a non-employee advisory role with the Company.”
Earnings Releases
Vital Farms, Inc. updated its fiscal year 2024 guidance (initiated).
“Vital Farms Reports Fourth Quarter and Fiscal Year 2023 Financial Results Record Fourth Quarter Net Revenue of $135.8 million, up 23.4% versus Prior Year Period Provides Fiscal Year 2024 Outlook”
Earnings Releases
Vital Farms, Inc. reported fiscal year (53 weeks) ended December 31, 2023 results: revenue $471.9 million, net income $25.6 million, EPS $0.59.
“Financial highlights for the fiscal year ended December 31, 2023 (53 weeks) compared to the fiscal year ended December 25, 2022 (52 weeks): • Net Revenue increased 30.3% to $471.9 million, compared to $362.1 million. Excluding the extra week in fiscal year 2023, Net Revenue increased 28.0%. • Net Income of $25.6 million, compared to $1.2 million. • Net Income per Diluted Share of $0.59, compared to $0.03. • Adjusted EBITDA of $48.3 million, compared to $16.2 million.”
Earnings Releases
Vital Farms, Inc. reported fourth quarter (14 weeks) ended December 31, 2023 results: revenue $135.8 million, net income $7.2 million, EPS $0.17.
“Vital Farms Reports Fourth Quarter and Fiscal Year 2023 Financial Results Record Fourth Quarter Net Revenue of $135.8 million, up 23.4% versus Prior Year Period Provides Fiscal Year 2024 Outlook”
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