NASDAQ$VITL
Vital Farms Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported record first quarter net revenue with increased gross margin and net income, and raised fiscal year 2024 outlook.
Vital Farms reported a strong start to 2024 with record net revenue of $147.9 million, a 24.1% increase compared to the prior year. Gross margin expanded to 39.8%, and net income reached $19.0 million. The company raised its fiscal year 2024 outlook, expecting net revenue of at least $575 million and adjusted EBITDA of at least $70 million.
- Net revenue increased by 24.1% to a record $147.9 million.
- Gross margin expanded by 400 basis points to 39.8%.
- Net income increased to $19.0 million, or $0.43 per diluted share.
- Fiscal year 2024 outlook raised with net revenue expected to be at least $575 million and adjusted EBITDA of at least $70 million.
Headline financials
Revenue & EPS history
Vital Farms · Revenue · Quarterly
$148M
Forward guidance
Vital Farms raised its fiscal year 2024 outlook, reflecting increased confidence in performance, a more favorable commodity outlook, and successful execution of the marketing reinvestment strategy.
Tailwinds
- Net revenue of at least $575 million, representing at least 22% growth over fiscal year 2023.
- Adjusted EBITDA of at least $70 million, representing at least 45% growth over fiscal year 2023.
- Capital expenditures in the range of $35 million to $45 million.
- Increased brand awareness.
- Deepened loyalty with consumers.
Headwinds
- Assumes no additional significant disruptions to the supply chain.
- Assumes no additional significant disruptions to customers.
- Assumes no additional significant disruptions to consumers.
- Potential issues from adverse macroeconomic factors.
- Unavailability of reliable estimates for income taxes.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-1.7%
Avg return
Earnings day
-1.7%
Avg return
5 days after
+0.4%
Avg return
30 days after
41%
12 / 29 earnings
Positive
+21.7%
Q1 2024
Best reaction
-20.8%
Q1 2027
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | -20.8% | -28.2% | -16.3% | |
| Q4 2025 | -10.9% | -18.1% | -47.0% | |
| Q3 2025 | +16.6% | +7.8% | -2.2% | |
| Q1 2025 | -9.3% | -4.9% | -14.0% | |
| Q4 2024 | -9.1% | -8.1% | -12.3% | |
| Q3 2024 | -16.2% | -22.9% | -3.9% | |
| Q2 2024 | -12.2% | -12.0% | -15.7% | |
| Q1 2024 | +21.7% | +23.7% | +39.9% | |
| Q4 2023 | +7.9% | +10.5% | +33.8% | |
| Q3 2023 | +2.7% | +5.9% | +22.6% | |
| Q2 2023 | +17.6% | +15.6% | +12.5% | |
| Q1 2023 | +18.6% | +20.4% | +13.2% | |
| Q4 2022 | +1.0% | -3.9% | -5.1% | |
| Q3 2022 | +4.3% | +11.5% | +13.4% | |
| Q2 2022 | +12.3% | +15.1% | +5.3% | |
| Q1 2022 | +0.1% | -14.0% | -22.6% | |
| Q4 2021 | -6.9% | -0.3% | +5.2% | |
| Q3 2021 | +13.6% | +16.7% | +6.5% | |
| Q2 2021 | +2.5% | +2.5% | -4.7% | |
| Q1 2021 | -3.2% | +1.1% | +7.3% | |
| Q1 2020 | -3.2% | +1.1% | +7.3% | |
| Q4 2020 | -14.1% | -20.5% | +2.6% | |
| Q4 2018 | -14.1% | -20.5% | +2.6% | |
| Q3 2020 | -14.7% | -15.7% | -26.3% | |
| Q3 2019 | -14.7% | -15.7% | -26.3% | |
| Q2 2020 | -4.8% | +1.2% | +9.3% | |
| Q4 2019 | -4.8% | +1.2% | +9.3% | |
| Q2 2019 | -4.8% | +1.2% | +9.3% | |
| Q1 2019 | -4.8% | +1.2% | +9.3% |
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