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Sep 30, 2022
Vita Coco Q3 2022 Earnings Report
Net sales increased driven by strong growth of Vita Coco Coconut Water and gross margin represented continued sequential improvement.
Key Takeaways
The Vita Coco Company reported a 7% increase in net sales to $124 million, driven by a 14% growth in Vita Coco Coconut Water. Gross margin was 26.3%, showing sequential improvement. Net income was $7 million, and adjusted EBITDA was 9.5% of net sales.
Net sales grew 7% to $124 million, driven by 14% growth of Vita Coco Coconut Water.
Gross profit was $33 million, with gross margin at 26.3%, a sequential improvement from the prior quarter.
Net income attributable to shareholders was $7 million, or $0.13 per diluted share.
Adjusted EBITDA was $12 million.
Forward Guidance
The Company revised its full year 2022 guidance. Expect net sales in the range of $422-427 million, anticipate full year gross margins in the mid 20%’s, and forecast adjusted EBITDA in the range of $20-22 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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