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- Vital Farms Inc (NASDAQ:VITL) reported fourth-quarter FY21 sales growth of 43.4% year-on-year, to $77.41 million, beating the consensus of $71.63 million.
- The revenue increase was driven primarily by continued growth in egg-related sales, driven by volume increases at customers, and new distribution gains at both new and existing retail partners.
- Gross profit rose 12.5% Y/Y to $19.8 million with a gross margin contracting 700 basis points to 25.6%, affected by input costs across eggs and butter and continued higher inbound freight inflation.
- The operating loss for the quarter was $(4.2) million versus $(2.2) million last year.
- Adjusted EBITDA loss expanded to $(2) million versus $(0.1) million a year ago.
- EPS loss of $(0.09) was in line with the consensus.
- Net cash provided by operating activities was $16.3 million for twelve months. The company held $99.6 million in cash and equivalents as of December 26, 2021.
- Outlook: Vital Farms sees FY22 revenue of more than $340 million, increasing 30% Y/Y and above the consensus of $323.38 million.
- Price Action: VITL shares are trading higher by 13.3% at $13.71 on the last check Thursday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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