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Jun 27, 2021
Vital Farms Q2 2021 Earnings Report
Reported record net revenue and increased capacity across farmer network.
Key Takeaways
Vital Farms reported a record net revenue of $60.3 million for Q2 2021, representing a 1.7% increase compared to the same period last year. The company's net income for the quarter was $3.9 million. Vital Farms is reaffirming guidance for net revenue between $246 to $253 million for the full year 2021.
Net Revenue increased 1.7% to $60.3 million.
Net Income of $3.9 million.
Adjusted EBITDA of $5.1 million.
Household penetration grew to over 5.5 million households and retail distribution grew to over 17,250 stores.
Vital Farms
Vital Farms
Forward Guidance
Vital Farms is reaffirming its full year 2021 guidance, expecting net revenue between $246 million and $253 million, representing an increase of 15-18% compared to 2020. Adjusted EBITDA is expected to be in the range of $7 million to $9 million for the full year 2021.
Positive Outlook
- Reaffirming net revenue guidance of $246 to $253 million for full year 2021, an increase of 15-18% compared to 2020.
- Reaffirming Adjusted EBITDA guidance of $7 to $9 million for full year 2021.
- Continued growth in egg-related sales driven by increased household penetration.
- New distribution gains at both new and existing retail partners.
- No additional significant disruptions to the supply chain, customers, or consumers are expected.
Challenges Ahead
- Guidance assumes no additional significant disruptions to the supply chain.
- Guidance assumes no issues from adverse macroeconomic factors.
- Inability to provide a reconciliation between forecasted Adjusted EBITDA and net revenue metrics without unreasonable effort due to the unavailability of reliable estimates for certain items.
- These items are not within our control and may vary greatly between periods.
- These items could significantly impact future financial results.