NASDAQ$VITL
Vital Farms Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported a strong quarter with revenue growth and increased profitability.
Vital Farms reported a strong third quarter with a 20% increase in net revenue to $110.4 million and net income of $4.5 million. The company is raising its full year Adjusted EBITDA forecast, reflecting confidence in its business trajectory and long-term potential.
- Net revenue increased by 20.0% to $110.4 million compared to the prior year period.
- Net income was $4.5 million, a significant increase from $0.7 million in the prior year quarter.
- Gross profit reached $36.7 million, representing 33.2% of net revenue.
- Adjusted EBITDA was $9.3 million, compared to $5.2 million in the prior year quarter.
Headline financials
Revenue & EPS history
Vital Farms · Revenue · Quarterly
$110M
Forward guidance
Vital Farms expects net revenue of more than $465 million for fiscal year 2023 and Adjusted EBITDA of more than $40 million. Capital expenditures are projected to be in the range of $11 million to $16 million.
Tailwinds
- Net revenue is expected to exceed $465 million for the full fiscal year 2023.
- The company anticipates the highest single net revenue period in its history in the fourth quarter.
- Adjusted EBITDA is projected to be more than $40 million for the full fiscal year 2023.
- The company is delivering double-digit volume growth.
- The company continues to gain share and expand profit margins.
Headwinds
- Guidance assumes no additional significant disruptions to the supply chain.
- Guidance assumes no additional significant disruptions to customers.
- Guidance assumes no additional significant disruptions to consumers.
- Guidance assumes no issues from adverse macroeconomic factors.
- The company has begun to lap the top-line benefits from commodity egg supply constraints due to avian influenza.
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 Q3 2023
-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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