Vita Coco Company (COCO) Misses Q4 EPS by 9c

Vita Coco Company (NASDAQ: COCO) reported Q4 EPS of ($0.05), $0.09 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $92 million versus the consensus estimate of $90.45 million.

Fiscal Year 2023 Full Year Outlook

The Company is providing the following guidance:

• Expect net sales growth of approximately of 9-11% compared to fiscal year 2022, with Vita Coco Coconut Water expected to grow mid-teens and Private Label net sales approximately flat.
• Full year gross margin expected to be between 32% and 34%, with first quarter expected to approach 30%, showing significant improvement over 2022, and sequential improvement expected in the next two quarters, due primarily to improvement in transportation costs, with contributions from price and mix.
• Higher full year SG&A expenses to support long term growth initiatives, build commercial capabilities, cover increased employee costs, and improve efficiencies with GAAP reported SG&A expenses growing ahead of net sales.
• Forecasting Adjusted EBITDA in the range of $52 million to $58 million2.

For earnings history and earnings-related data on Vita Coco Company (COCO) click here.

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