Vital Farms, Inc. VITL shares are trading higher by 29.9% to $13.69 Thursday morning after the company announced strong quarterly earnings, reporting 15 cents per share, which exceeded the analyst consensus estimate of 6 cents.
The company's quarterly sales reached $106.44 million, surpassing the analyst consensus estimate of $104.89 million by 1.5%. This reflects a substantial 28.7% increase compared to sales of $82.87 million during the same period last year.
Adjusted EBITDA was $11.3 million, accounting for 10.7% of net revenue.
The company's strong performance was driven by higher sales, improved pricing and volume gains from both new and existing retail customers.
The company's gross profit margin also improved, benefiting from increased pricing across its portfolio, despite facing headwinds such as higher input and packaging costs.
According to data from Benzinga Pro, Vital Farms has a 52-week high of $18.18 and a 52-week low of $10.00.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
