COCO - Vita Coco GAAP EPS of -$0.05 misses by $0.09 revenue of $91.99M beats by $1.11M
2023-03-08 07:05:34 ET
- Vita Coco press release ( NASDAQ: COCO ): Q4 GAAP EPS of -$0.05 misses by $0.09 .
- Revenue of $91.99M (+6.2% Y/Y) beats by $1.11M .
- Adjusted EBITDA was $4 million
- FY23 Outlook:
- 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 million
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Vita Coco GAAP EPS of -$0.05 misses by $0.09, revenue of $91.99M beats by $1.11M