The Vita Coco Expects 2024 Net Sales To Be Between $500M-$510M Vs. $509.64M Estimate
Portfolio Pulse from Benzinga Newsdesk
The Vita Coco Company has reaffirmed its full-year guidance for 2024, expecting net sales between $500M and $510M, slightly below the $509.64M estimate. The company anticipates growth in its coconut water segment but expects declines in its private label coconut oil business. Gross margins are projected to be between 37% and 39%, with ocean freight costs impacting margins in the second half, particularly in Q4. SG&A expenses are expected to remain flat or increase slightly compared to 2023, and adjusted EBITDA is forecasted to be between $76M and $82M.
July 31, 2024 | 11:33 am
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The Vita Coco Company reaffirmed its 2024 guidance, expecting net sales between $500M and $510M, slightly below the $509.64M estimate. The company anticipates growth in its coconut water segment but expects declines in its private label coconut oil business. Gross margins are projected to be between 37% and 39%, with ocean freight costs impacting margins in the second half, particularly in Q4. SG&A expenses are expected to remain flat or increase slightly compared to 2023, and adjusted EBITDA is forecasted to be between $76M and $82M.
The reaffirmation of guidance provides clarity but does not significantly deviate from market expectations. The slight shortfall in net sales estimate and the impact of ocean freight costs on gross margins are balanced by the expected growth in the coconut water segment and stable SG&A expenses.
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