Vital Farms Reports Strong Q4 and FY 2024 Results, Raises Guidance for FY 2025
Generated by AI AgentWesley Park
Thursday, Feb 27, 2025 7:30 am ET1min read
FARM--
Vital Farms (Nasdaq: VITL), a Certified B Corporation that offers a range of ethically produced foods nationwide, reported its fourth quarter and fiscal year 2024 financial results and announced its fiscal year 2025 guidance on Feb. 27, 2025. The company's strong performance was driven by its commitment to ethical and sustainable practices, strategic investments in its supply chain, and a growing consumer base that values responsibly sourced products.
Fourth Quarter and Fiscal Year 2024 Highlights:
* Net revenue increased 22.2% to $166.0 million in the fourth quarter of 2024, compared to $135.8 million in the fourth quarter of 2023.
* Gross margin expanded 280 basis points to 36.1%, compared to 33.3% in the prior year quarter.
* Net income increased 46.8% to $10.6 million, compared to $7.2 million in the fourth quarter of 2023.
* Net income per diluted share was $0.23, compared to $0.17 in the prior year quarter.
* Adjusted EBITDA was $19.1 million, compared to $13.9 million in the fourth quarter of 2023.
* For the fiscal year ended Dec. 29, 2024, net revenue increased 28.5% to $606.3 million, compared to $471.9 million in the prior year.
* Gross margin expanded 352 basis points to 37.9%, compared to 34.4% in the prior year.
* Net income grew 108.8% to $53.4 million, compared to $25.6 million in the prior year.
* Net income per diluted share was $1.18, compared to $0.59 in the prior year.
* Adjusted EBITDA was $86.7 million, compared to $48.3 million in the prior year.
Fiscal Year 2025 Guidance:
* Net revenue is expected to be at least $740 million, representing a 22.4% increase compared to fiscal year 2024.
* Adjusted EBITDA is expected to be at least $100 million, reflecting a 11.5% year-over-year increase.
Strategic Investments and Long-term Growth:
Vital Farms' commitment to ethical and sustainable practices, coupled with strategic investments in its supply chain, has positioned the company for continued growth and success. The company's expansion of its farmFARM-- network, now totaling over 425 family farms, and the addition of new facilities like Egg Central Station have enabled Vital FarmsVITL-- to meet growing consumer demand and optimize production efficiency.
In conclusion, Vital Farms' strong fourth quarter and fiscal year 2024 results, coupled with its positive outlook for fiscal year 2025, demonstrate the company's commitment to ethical and sustainable practices and its ability to capitalize on growing consumer demand for responsibly sourced products. As Vital Farms continues to invest in its supply chain and expand its farm network, the company is well-positioned to achieve its long-term goal of $1 billion in annual net revenue by 2027.
VITL--
Vital Farms (Nasdaq: VITL), a Certified B Corporation that offers a range of ethically produced foods nationwide, reported its fourth quarter and fiscal year 2024 financial results and announced its fiscal year 2025 guidance on Feb. 27, 2025. The company's strong performance was driven by its commitment to ethical and sustainable practices, strategic investments in its supply chain, and a growing consumer base that values responsibly sourced products.
Fourth Quarter and Fiscal Year 2024 Highlights:
* Net revenue increased 22.2% to $166.0 million in the fourth quarter of 2024, compared to $135.8 million in the fourth quarter of 2023.
* Gross margin expanded 280 basis points to 36.1%, compared to 33.3% in the prior year quarter.
* Net income increased 46.8% to $10.6 million, compared to $7.2 million in the fourth quarter of 2023.
* Net income per diluted share was $0.23, compared to $0.17 in the prior year quarter.
* Adjusted EBITDA was $19.1 million, compared to $13.9 million in the fourth quarter of 2023.
* For the fiscal year ended Dec. 29, 2024, net revenue increased 28.5% to $606.3 million, compared to $471.9 million in the prior year.
* Gross margin expanded 352 basis points to 37.9%, compared to 34.4% in the prior year.
* Net income grew 108.8% to $53.4 million, compared to $25.6 million in the prior year.
* Net income per diluted share was $1.18, compared to $0.59 in the prior year.
* Adjusted EBITDA was $86.7 million, compared to $48.3 million in the prior year.
Fiscal Year 2025 Guidance:
* Net revenue is expected to be at least $740 million, representing a 22.4% increase compared to fiscal year 2024.
* Adjusted EBITDA is expected to be at least $100 million, reflecting a 11.5% year-over-year increase.
Strategic Investments and Long-term Growth:
Vital Farms' commitment to ethical and sustainable practices, coupled with strategic investments in its supply chain, has positioned the company for continued growth and success. The company's expansion of its farmFARM-- network, now totaling over 425 family farms, and the addition of new facilities like Egg Central Station have enabled Vital FarmsVITL-- to meet growing consumer demand and optimize production efficiency.
In conclusion, Vital Farms' strong fourth quarter and fiscal year 2024 results, coupled with its positive outlook for fiscal year 2025, demonstrate the company's commitment to ethical and sustainable practices and its ability to capitalize on growing consumer demand for responsibly sourced products. As Vital Farms continues to invest in its supply chain and expand its farm network, the company is well-positioned to achieve its long-term goal of $1 billion in annual net revenue by 2027.
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