What is the market's earnings forecast for Vital Farms next quarter?

What is Vital Farms's gross profit margin?

Did Vital Farms beat or miss consensus estimates last quarter?

What were the key takeaways from Vital Farms's earnings call?

What does Vital Farms do and what are its main business segments?

What is Vital Farms's latest dividend and current dividend yield?

What were the key takeaways from Vital Farms’s earnings call?

What is the revenue and EPS growth rate for Vital Farms year over year?

- **Revenue Surge**: Q3 net revenue up 37.2% YoY to $198.9 million, with EBITDA tripling to $27.4 million.
- **Capacity Expansion**: 3rd production line and new facility add $2.1 billion annual capacity, supporting 28% 2025 revenue growth.
- **Brand Momentum**: 8pt increase in brand awareness to 33%, fueled by innovative campaigns and limited-edition products.
- **Guidance Raise**: Full-year 2025 net revenue raised to $775 million, EBITDA to $115 million, with $145M cash and no debt.

### CEO Summary Section
- **Record Financial Performance**: Q3 net revenue reached $198.9 million, a 37.2% year-over-year increase. Adjusted EBITDA rose 81.3% to $27.4 million.
- **Supply Chain Expansion**: Added 75 new family farms, bringing total to 575, with over 10 million hens under contract. A third production line at Egg Central Station (ECS) in Missouri and a new facility in Seymour, Indiana, are operational, adding $1.2 billion and $900 million in annual revenue capacity, respectively.
- **Brand Growth**: Brand awareness increased by 8 percentage points to 33%, driven by campaigns like "Good Eggs. No Shortcuts" and limited-edition dog treats.

### CFO Financial Commentary
- **Financial Highlights**: GAAP net income was $16.4 million ($0.36 per diluted share), up 121% YoY. Gross margin improved to 37.7%, benefiting from price mix and scale efficiencies.
- **Guidance Update**: Full-year 2025 net revenue raised to at least $775 million (28% growth) and adjusted EBITDA to $115 million. Capital expenditures projected at $80-$100 million, with $145.1 million in cash and no debt.
- **ERP Implementation**: The new system, launched in Q4, caused a temporary 2-week slowdown but is now operating at pre-go-live levels.

### Q&A Key Highlights
- **Volume Growth Sustainability**: CEO and CFO confirmed Q3 volume growth (19%) reflects demand, not inventory fill, with 2026 growth expected to remain robust.
- **Farmer Recruitment**: 150 new farms year-to-date, driven by trust in Vital Farms' model and scalability of pasture-raised egg production.
- **Distribution Expansion**: Focus on adding SKUs in existing retailers, with TDP growth accelerating due to increased supply and processing capacity.
- **Promotional Strategy**: Q4 promotional spend will drive trial, supported by strong supply and brand awareness.
- **CapEx Timing**: Seymour facility delays and ECS project postponements shifted $10 million of 2025 CapEx to 2026.

Vital Farms, Inc. (VITL) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

VITL

VITL fundamentals

You can ask Aime