分组1 - Vita Coco Company, Inc. reported quarterly earnings of $0.12 per share, exceeding the Zacks Consensus Estimate of $0.08 per share, and showing an increase from $0.11 per share a year ago, representing a 50% earnings surprise [1] - The company achieved revenues of $127.29 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 3.31% and increasing from $106.14 million year-over-year [2] - The stock has gained approximately 3.4% since the beginning of the year, outperforming the S&P 500's gain of 1.3% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.27 on revenues of $119.56 million, and for the current fiscal year, it is $1.18 on revenues of $569.13 million [7] - The Beverages - Soft drinks industry, to which Vita Coco belongs, is currently ranked in the top 32% of over 250 Zacks industries, indicating a favorable outlook for the sector [8]

Financial Performance - Net sales for the year ended December 31, 2024, increased by $22.4 million, or 4.5%, to $516.0 million compared to $493.6 million in 2023[269] - Gross profit rose by $18.1 million, or 10.0%, to $198.8 million in 2024, up from $180.7 million in 2023[269] - Income from operations increased by $17.3 million, or 30.7%, to $73.8 million for the year ended December 31, 2024[269] - Net income for 2024 was $55.9 million, reflecting a $9.3 million increase, or 20.0%, from $46.6 million in 2023[269] - EBITDA increased by $8.8 million, or 15.7%, to $64.8 million for the year ended December 31, 2024, compared to $56.0 million for the year ended December 31, 2023[297] - Adjusted EBITDA increased by $15.9 million, or 23.3%, to $84.1 million for the year ended December 31, 2024, from $68.2 million for the year ended December 31, 2023[297] Sales and Volume Growth - Vita Coco Coconut Water net sales grew by $26.1 million, or 8.2%, to $343.3 million in 2024, driven by increased case equivalent (CE) volume and pricing actions[275] - Total volume in case equivalent (CE) increased by 4.3% year-over-year, with a 5.8% growth in Vita Coco Coconut Water volume[272] - The Americas segment net sales increased by $12.1 million, or 2.8%, to $442.3 million, primarily due to CE volume growth of 2.7%[274] - International net sales increased by $10.3 million, or 16.3%, to $73.7 million for the year ended December 31, 2024, driven by CE volume growth of 12.8%[278] - Vita Coco Coconut Water net sales increased by $8.5 million, or 20.3%, to $50.3 million for the year ended December 31, 2024, primarily due to higher CE volume in the European region[279] Expenses and Income - SG&A expense increased by $0.7 million, or 0.6%, to $125.0 million for the year ended December 31, 2024, primarily due to increased personnel-related expenses[285] - Income tax expense was $14.8 million for the year ended December 31, 2024, an increase of 31.4% from $11.3 million for the year ended December 31, 2023[291] Cash Flow and Investments - Cash and cash equivalents increased to $164.7 million as of December 31, 2024, from $132.5 million as of December 31, 2023[301] - Cash provided by operating activities decreased by $64.3 million, or 60.0%, from $107.2 million in 2023 to $42.9 million in 2024, primarily due to increased inventory purchases and timing of working capital payments[307] - Cash used in investing activities increased by $0.4 million, or 64.0%, from $0.6 million in 2023 to $1.0 million in 2024, driven by equipment purchases and technology-related capital expenditures[308] - Net cash used by financing activities increased by $14.6 million, or 231.9%, from $6.3 million in 2023 to $8.3 million in 2024, primarily due to share repurchases[309] - The net decrease in cash and cash equivalents was $33.1 million in 2024, compared to a net increase of $113.2 million in 2023, representing a change of 70.8%[305] Financial Position and Commitments - The company had no amounts drawn on the Revolving Credit Facility as of December 31, 2024, and was compliant with all financial covenants[314] - The company entered into a $60 million Revolving Credit Facility, which was amended and extended for five years on February 14, 2024, with a maturity date of February 13, 2030[311] - The company has future minimum commitments under operating leases amounting to $0.4 million as of December 31, 2024[318] - The company has inventory purchase commitments due within one year, including raw material and packaging commitments[319] - As of December 31, 2024, the outstanding balance on vehicle loans was less than $0.1 million, with interest rates ranging from 4.56% to 5.68%[315] Other Financial Metrics - Interest income surged by 160.2%, increasing from $2.6 million in 2023 to $6.7 million in 2024[269] - Interest income increased by $4.1 million, or 160.2%, to $6.7 million for the year ended December 31, 2024, due to a cash investment program initiated in April 2023[289] - Unrealized losses on derivative instruments increased significantly, from a loss of $872,000 in 2023 to a loss of $8.2 million in 2024[269] - The company experienced a foreign currency loss of $1.6 million in 2024, compared to a loss of $251,000 in 2023[269] - Private Label net sales decreased by $13.3 million, or 12.9%, to $89.9 million for the year ended December 31, 2024, from $103.2 million for the year ended December 31, 2023[276] - There were no impairments recorded for goodwill for the years ended December 31, 2024, and 2023[331]

Financial Performance - Fourth quarter net sales increased 20% to $127 million, contributing to full year net sales of $516 million, a 5% increase year-over-year[4] - Vita Coco Coconut Water net sales grew 30% in the fourth quarter and 10% for the full year[4] - Full year net income rose by $9 million to $56 million, with net income per diluted share increasing to $0.94 from $0.79[11] - Non-GAAP Adjusted EBITDA for the full year was $84 million, up from $68 million in the previous year[12] - Net sales for the twelve months ended December 31, 2024, increased to $516,013,000, up from $493,612,000 in 2023, representing a growth of 4.1%[27] - Gross profit for the twelve months ended December 31, 2024, was $198,783,000, compared to $180,729,000 in 2023, reflecting an increase of 10.0%[27] - Net income for the twelve months ended December 31, 2024, reached $55,952,000, a rise from $46,629,000 in 2023, marking an increase of 19.8%[27] - Adjusted EBITDA for the twelve months ended December 31, 2024, was $84,127,000, compared to $68,169,000 in 2023, reflecting a growth of 23.4%[30] - Total net sales for Q4 2024 reached $127.3 million, a 19.9% increase from $106.1 million in Q4 2023[34] - For the twelve months ended December 31, 2024, total net sales were $516.0 million, up 4.8% from $493.6 million in 2023[34] Cost and Margin Analysis - Gross margin for the full year improved to 39% from 37%, driven by net pricing improvements and product mix[9] - The outlook for 2025 includes expected gross margin between 35% and 37%, influenced by higher transportation costs and increased finished goods costs[18] - Gross profit for Q4 2024 was $41.3 million, compared to $39.8 million in Q4 2023, reflecting a gross margin of 32.4%[34] - The total gross margin for the twelve months ended December 31, 2024, improved to 38.5% from 36.6% in 2023[34] - The Americas segment gross margin decreased to 33.7% in Q4 2024 from 41.3% in Q4 2023, while the International segment improved to 24.7% from 13.8%[34] Expenses and Liabilities - SG&A expenses for the full year increased by 1% to $125 million, primarily due to personnel-related expenses[10] - Total liabilities increased to $103,564,000 as of December 31, 2024, from $83,245,000 in 2023, representing a rise of 24.4%[25] - The company incurred a bad debt expense of $1,603,000 in 2024, significantly higher than $260,000 in 2023[29] Cash and Assets - The company had cash and cash equivalents of $165 million as of December 31, 2024, with no debt reported[12] - Cash and cash equivalents at the end of the period were $165,933,000, up from $132,867,000 in 2023, showing an increase of 25.0%[29] - Total current assets as of December 31, 2024, were $341,291,000, compared to $262,937,000 in 2023, indicating a significant increase of 29.6%[25] Future Outlook and Strategy - The company expects fiscal year 2025 net sales to be between $555 million and $570 million, with Adjusted EBITDA projected between $86 million and $92 million[1] - The company plans to continue focusing on market expansion and new product development to drive future growth[27] - The Americas segment's cost of goods sold rose to $72.6 million in Q4 2024, up from $53.8 million in Q4 2023[34] Segment Performance - Vita Coco Coconut Water sales in the Americas segment increased by 28.2% to $81.3 million in Q4 2024 compared to $63.4 million in Q4 2023[34] - Private Label sales in the Americas segment showed a slight increase to $26.0 million in Q4 2024 from $25.8 million in Q4 2023[34] - The International segment's total net sales increased by 21.1% to $17.8 million in Q4 2024 from $14.6 million in Q4 2023[34]

Financial Performance - Fourth quarter net sales increased by 20% to $127 million, contributing to a full year net sales increase of 5% to $516 million, driven by a 10% growth in Vita Coco Coconut Water [1][4][7] - Full year net income rose by $9 million to $56 million, with non-GAAP adjusted EBITDA increasing by $16 million to $84 million [1][12][13] - For fiscal year 2025, the company expects net sales between $555 million and $570 million, with adjusted EBITDA projected between $86 million and $92 million [1][16] Gross Profit and Margins - Gross profit for the fourth quarter was $41 million, up from $40 million in the prior year, but gross margin decreased to 32% from 38% due to increased ocean freight costs [5][7] - Full year gross profit increased by $18 million to $199 million, with a gross margin of 39%, up from 37% in the previous year, primarily due to improved net pricing for Vita Coco Coconut Water [10][12] Expenses and Income - Selling, general and administrative (SG&A) expenses for the fourth quarter increased to $37 million from $34 million, largely due to a bad debt expense related to a supplier [6][11] - Net income for the fourth quarter was $3 million, down from $7 million in the prior year, with net income per diluted share at $0.06 compared to $0.11 [6][12] Market Position and Growth Drivers - The coconut water category is one of the fastest-growing segments in the beverage industry, with Vita Coco positioned as a category leader [3] - The company anticipates continued growth momentum into 2025, supported by normal inventory levels and the national launch of Vita Coco Treats [3][16] Balance Sheet and Cash Position - As of December 31, 2024, the company had cash and cash equivalents of $165 million, an increase from $133 million the previous year, with no debt reported [14][15] - The company has repurchased a total of 534,246 shares for an aggregate value of $12.8 million under a share repurchase program [15]

Company Performance - Vita Coco Company, Inc. (COCO) closed at $37.58, reflecting a +0.21% change from the previous trading day's closing, outperforming the S&P 500's daily loss of 1.71% [1] - Over the past month, shares of the company gained 1.11%, while the Consumer Staples sector gained 0.53% and the S&P 500 gained 2.2% [1] Upcoming Earnings - The upcoming earnings report for Vita Coco is expected on February 26, 2025, with projected earnings per share (EPS) of $0.08, indicating a 27.27% decrease from the same quarter last year [2] - The Zacks Consensus Estimate for revenue is projecting net sales of $122.22 million, which is a 15.15% increase from the year-ago period [2] Analyst Estimates and Rankings - Changes in analyst estimates for Vita Coco are important as they reflect short-term business trends, with positive revisions indicating optimism about the company's outlook [3] - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), currently ranks Vita Coco at 2 (Buy), with the consensus EPS estimate moving 0.43% higher over the past month [5] Valuation Metrics - Vita Coco is trading at a Forward P/E ratio of 32.19, which is a premium compared to the industry's average Forward P/E of 18.89 [6] - The company has a PEG ratio of 2.25, while the average PEG ratio for the Beverages - Soft drinks industry is 2.42 [6] Industry Context - The Beverages - Soft drinks industry, part of the Consumer Staples sector, has a Zacks Industry Rank of 135, placing it within the bottom 47% of over 250 industries [7] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]

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Company Performance - Vita Coco Company, Inc. (COCO) ended the recent trading session at $39.78, showing a +0.91% change from the previous day's closing price, outperforming the S&P 500's daily loss of 0.27% [1] - Over the past month, shares of the company have gained 15.6%, surpassing the Consumer Staples sector's gain of 5.6% and the S&P 500's gain of 4.27% [1] Financial Projections - The upcoming earnings per share (EPS) for Vita Coco is projected to be $0.08, indicating a 27.27% decrease from the same quarter last year [2] - Revenue is estimated at $122.22 million, reflecting a 15.15% increase from the equivalent quarter last year [2] Analyst Estimates - Recent changes to analyst estimates for Vita Coco indicate a favorable outlook on the company's business health and profitability [3] - The Zacks Consensus EPS estimate has seen a 0.43% increase over the last 30 days, and the company currently holds a Zacks Rank of 2 (Buy) [5] Valuation Metrics - Vita Coco has a Forward P/E ratio of 33.84, which is a premium compared to the industry's average Forward P/E of 18.22 [6] - The company holds a PEG ratio of 2.36, which aligns with the average PEG ratio of the Beverages - Soft drinks industry [7] Industry Context - The Beverages - Soft drinks industry is part of the Consumer Staples sector and currently holds a Zacks Industry Rank of 184, placing it in the bottom 27% of all industries [8]

Company Overview - The Vita Coco Company is a leading high-growth platform of better-for-you beverage brands, including its flagship coconut water brand, sustainably packaged water Ever & Ever, and protein-infused water PWR LIFT [3] - The company was co-founded in 2004 and operates as a public benefit corporation and Certified B Corporation [3] - Vita Coco is recognized as the leading coconut water brand in the U.S., appealing to consumers for its electrolytes, nutrients, and vitamins [3] Financial Results Announcement - The company will report its financial results for the fourth quarter and full year ended December 31, 2024, on February 26, 2025, before market open [1] - A conference call and webcast to discuss these results will take place at 8:30 a.m. ET on the same day [1] Participation in Earnings Call - Interested participants can register for the live earnings call and question-and-answer session through a provided link, with dial-in information sent directly to registrants [2] - The live audio webcast will be accessible in the "Events" section of the company's Investor Relations website, and an archived replay will be available shortly after the live event [2]

Group 1 - Vita Coco Company, Inc. (COCO) closed at $37.32, with a +0.65% change from the previous day, outperforming the S&P 500 which gained 0.36% [1] - Over the last month, COCO shares increased by 9.12%, while the Consumer Staples sector experienced a loss of 0.5% and the S&P 500 gained 2.11% [1] Group 2 - The upcoming earnings report for Vita Coco is expected to show an EPS of $0.08, reflecting a 27.27% decline compared to the same quarter last year, with revenue anticipated at $122.22 million, a 15.15% increase from the prior-year quarter [2] Group 3 - Changes in analyst estimates for Vita Coco are important as they indicate short-term business trends, with positive revisions suggesting analyst optimism about the company's performance [3] Group 4 - The Zacks Rank system, which incorporates estimate changes, indicates that COCO is currently ranked 2 (Buy), with the consensus EPS estimate moving 0.43% higher over the last 30 days [5] Group 5 - Vita Coco has a Forward P/E ratio of 31.83, which is higher than the industry average of 17.83, and a PEG ratio of 2.22, matching the average for the Beverages - Soft drinks industry [6] Group 6 - The Beverages - Soft drinks industry, part of the Consumer Staples sector, holds a Zacks Industry Rank of 180, placing it in the bottom 29% of over 250 industries [7]

Market Overview - The global coconut water market is projected to reach USD 11.43 billion by 2030, growing at a CAGR of 17.3% from 2025 to 2030 [1][12]. - The estimated market value in 2024 is USD 4.43 billion [12]. Consumer Trends - Coconut water is gaining popularity due to its rich electrolyte, vitamin, and mineral content, appealing particularly to health-conscious consumers seeking alternatives to sugary drinks [2]. - The introduction of various formats, such as ready-to-drink packaging and flavored variants, caters to diverse consumer preferences [2]. Market Segmentation - The conventional coconut water segment dominated the market with a revenue share of 81.7% in 2024, primarily due to its affordability and widespread availability [13]. - The tetra pack packaging segment held a major share of 52.7% in 2024, favored for its convenience and ability to preserve product quality [13]. - Supermarkets and hypermarkets accounted for 48.0% of the market share in 2024, benefiting from consumer trust and competitive pricing [13]. Regional Insights - Central and South America represented the largest market share in 2024, supported by favorable climatic conditions for coconut cultivation [8]. - The Asia Pacific region dominated with a revenue share of 33.1% in 2024, attributed to extensive coconut production and cultural affinity for coconut-based beverages [13]. Competitive Landscape - Major players in the coconut water market include PepsiCo, Vita Coco, C2O Pure Coconut Water, and others, employing strategies such as new product launches and partnerships to enhance market share [9]. - The rise of private-label coconut water products is evident, with companies like Vita Coco expanding in this segment to compete effectively [3].