The Vita Coco Company, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2023
February 28, 2024 at 12:00 pm
Share
The Vita Coco Company, Inc. reported earnings results for the fourth quarter ended December 31, 2023. For the fourth quarter, the company reported sales was USD 106.14 million compared to USD 91.99 million a year ago. Net income was USD 6.77 million compared to net loss of USD 2.81 million a year ago.
Basic earnings per share from continuing operations was USD 0.12 compared to basic loss per share from continuing operations of USD 0.05 a year ago. Diluted earnings per share from continuing operations was USD 0.11 compared to diluted loss per share from continuing operations of USD 0.05 a year ago.
The Vita Coco Company, Inc. offers a platform for brands in the functional beverage category. The Companyâs brands include the coconut water, Vita Coco; clean energy drink Runa; sustainable enhanced water, Ever & Ever; and protein-infused water, PWR LIFT. Its branded portfolio is led by its Vita Coco brand, which is engaged in the coconut water category in the United States, and also includes coconut oil, juice, and milk offerings. It supplies private label products to retailers in both the coconut water and coconut oil categories. Additionally, the Company is also engaged in bulk product sales to beverage and food companies. Its Americas segment comprised of its operations primarily in the United States and Canada and the International segment comprised of operations primarily in Europe, the Middle East, Africa, and the Asia Pacific regions. The Companyâs products are distributed primarily through club, food, drug, mass, convenience, e-commerce, and foodservice channels.