Vita Coco Raises FY24 Outlook: Sees Sales $500M-$510M (Up From $495M-505M Prior) vs $503.4M Estimate, Adj. EBITDA $76M - $82M
Portfolio Pulse from Benzinga Newsdesk
Vita Coco has increased its FY24 sales outlook to $500M-$510M from the previous $495M-$505M, surpassing the $503.4M estimate. Adjusted EBITDA is now expected to be between $76M and $82M. The revision is based on year-to-date performance and a positive outlook, despite challenges such as decreased private label coconut oil business and adverse effects from increased ocean freight costs.
May 01, 2024 | 11:49 am
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Vita Coco raises FY24 sales outlook to $500M-$510M, exceeding estimates, with Adjusted EBITDA expected between $76M-$82M. The update reflects strong performance and a positive market outlook, despite some operational challenges.
The upward revision in Vita Coco's FY24 outlook is a positive signal to investors, indicating strong performance and confidence in continued growth. The increase in sales forecast above market estimates and a solid Adjusted EBITDA range suggest operational efficiency and market strength. However, the mention of challenges like decreased coconut oil business and higher freight costs introduces some caution. Overall, the positive outlook is likely to have a favorable impact on investor sentiment and the stock price in the short term.
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IMPORTANCE 90
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