Vital Farms(US:VITL)2024-11-09 14:59Financial Performance - Q3 2024 - Net revenue increased by 31.3% to $145.0 million, driven by volume and price/mix benefits[15] - Gross profit was $53.5 million, representing 36.9% of net revenue, a 368 bps increase due to price mix, operational efficiencies, and scale[15] - Income from operations increased by 76.7% to $9.24 million[15] - Adjusted EBITDA increased by 64.5% to $15.2 million, or 10.5% of net revenue[15] Financial Performance - YTD 2024 - Net revenue increased by 31.0% year-over-year[17] - Shell egg-related sales increased by 33% due to product performance and moderate price/mix benefits[17] - Butter-related sales increased by 5% in Q3 '24, but declined by 12% year-to-date due to discontinuation of a product[17] Outlook and Goals - The company updated its FY 2024 net revenue outlook to over $600 million, representing over 27% growth[20] - The company updated its FY 2024 Adjusted EBITDA outlook to over $80 million[20] - The company aims to achieve $1 billion in net revenue by 2027[21]