Vita Coco Company, which belongs to the Zacks Beverages - Soft drinks industry, posted revenues of $144.12 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.10%. This compares to year-ago revenues of $139.65 million. The company has topped consensus revenue estimates three times over the last four quarters. What's Next for Vita Coco Company? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earni ...

Net Sales Increased 3% to $144 million with Vita Coco Coconut Water Growth of 4% Net Income Increased $1 million to $19 million and Non-GAAP Adjusted EBITDA Increased $8 million to $32 million 1 Circana US scan data MULO+C, Vita Coco Coconut Water grew 14% Exhibit 99.1 The Vita Coco Company Reports Second Quarter 2024 Financial Results • Vita Coco Coconut Water net sales growth of 4% in the second quarter and 3% year-to-date. • Gross profit was $59 million in the second quarter, an increase of $8 million an ...

Core Viewpoint - Vita Coco Company, Inc. (COCO) is expected to report growth in both revenue and earnings for the second quarter of 2024, with earnings estimated at 31 cents per share, reflecting a 19.2% increase year-over-year [1][2]. Financial Performance - The consensus estimate for second-quarter revenues is $143.5 million, indicating a 2.7% rise from the previous year [2]. - In the last reported quarter, the company achieved an earnings surprise of 26.3%, with a trailing four-quarter average earnings surprise of 25.3% [2]. Key Factors Influencing Performance - The company's performance is anticipated to benefit from strong brand presence and effective strategic execution, particularly in the coconut water category [3]. - The flagship brand has shown consistent growth, supported by increased volumes in private label coconut water [3]. - Commercial initiatives, including multi-packs and new product lines like Vita Coco Farmers Organic and Vita Coco Juice, are expected to contribute positively to performance [4]. - The focus on expanding consumption occasions for coconut water is likely to enhance both category and brand performance [4]. Challenges - The company faces challenges from a tough macroeconomic environment, including uncertainties in global economies and geopolitical issues [5]. - Rising selling, general, and administrative (SG&A) expenses have been a concern, with management indicating that elevated ocean freight costs may negatively impact gross margins starting in the second quarter [5]. Earnings Prediction Model - The current earnings prediction model does not indicate a strong likelihood of an earnings beat for Vita Coco, with an Earnings ESP of -3.85% and a Zacks Rank of 3 [6].

Vita Coco Company, Inc. (COCO) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. The ...

Participants in the Zacks Beverages – Soft Drinks industry are positioned for long-term market share growth through innovation, adaptability and a focus on consumer well-being. Increasing digital investments in ecommerce and direct-to-consumer channels are beneficial. Key trends such as health consciousness, sustainability and innovation are driving the industry. Its participants are expected to benefit from expanding into new and adjacent categories, including gaining market share in the Ready-to-Drink (RT ...

Calavo Growers (CVGW) Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor's of science degree in applied accounting from Oxford Brookes University. It's tough to deny Gen Z's disruptive role in the investing realm these days. The digital-savvy generation is rewriting the investment playbook, betting on meme-driven, sustainable, ethical investments and disrupting traditional f ...

Vita Coco Company, Inc. (COCO) closed the latest trading day at $30.30, indicating a -1.75% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.23%. At the same time, the Dow lost 0.17%, and the tech-heavy Nasdaq gained 0.34%. The investment community will be paying close attention to the earnings performance of Vita Coco Company, Inc. in its upcoming release. In that report, analysts expect Vita Coco Company, Inc. to post earnings of $0.31 per share. Thi ...

Core Viewpoint - The Vita Coco Co. is expected to meet or exceed its FY24 guidance due to strong demand, product innovation, expanded distribution, and international growth, leading to a reiteration of a buy rating [1][4]. Financial Performance - COCO reported a 1.8% increase in revenue to $111.7 million, with coconut water sales growing by 0.6%, despite a tough comparison from the previous year [2]. - Gross margins expanded significantly by 1100 basis points to 42.2%, surpassing consensus estimates of 35.4% [2]. - Adjusted EBITDA was reported at $21 million, exceeding expectations of $16 million, while EPS reached $0.24, ahead of the consensus estimate of $0.18 [2]. Guidance Updates - Management raised FY24 net sales guidance to $500 million to $510 million, reflecting a growth of 1% to 3% [3]. - Gross margin guidance for FY24 was also increased to a range of 37% to 39%, indicating a 100 basis point improvement [3]. - Adjusted EBITDA is now expected to be between $76 million and $82 million, implying a 16% growth at the midpoint [3]. Product Innovation and Market Expansion - New product launches, such as Vita Coco Treats and Vita Coco Farmers Organic, are anticipated to contribute to growth, with initial responses being positive [5][6]. - Increased investment in Europe, particularly in Germany and the Benelux countries, is expected to drive international sales growth, which accounted for approximately 14% of total sales in 1Q24 [6]. Margin Potential - COCO's current gross margin of 42.2% suggests that the company has the potential to exceed its margin guidance for FY24 [7]. - The company is less locked into forward shipping contracts, allowing for flexibility in responding to changes in freight rates [7]. Valuation Metrics - The projected revenue for FY24 is $500 million, with an expected adjusted EBITDA margin of 16.4% [9]. - The implied share price target is $38.26, with a current share price of $26.86, indicating a potential upside of 42% [8][11]. Competitive Positioning - COCO continues to perform well against peers in the US beverage manufacturing industry, with a higher growth outlook and potential for margin expansion [10].

For those looking to find strong Consumer Staples stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Vita Coco Company, Inc. (COCO) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Consumer Staples peers, we might be able to answer that question. Vita Coco Company, Inc. is a member of our Consumer Staples group, which includes 191 different companies and currently sits at #6 in the Zacks Sector Rank. T ...

Historically, April has been a favorable month for Wall Street investors. However, this year, the month concluded on a disappointing note. Persistent inflation, a resilient job market and a significant drop in U.S. GDP growth eroded confidence in risky assets like stocks. Consequently, the S&P 500 Index plunged 4.2% in April, ending a five-month winning streak.Yet, U.S. stock markets are likely to bounce back in May, following Federal Reserve Chairman Jerome Powell's clear statement rejecting interest rate ...