Vita Coco expects FY24 revenue $505M-$515M, consensus $505.92M

The Company is raising its full year guidance for net sales and adjusted EBITDA: Expect 2024 net sales to be between $505 million and $515 million, with projected Vita Coco (COCO) Coconut Water and private label coconut water volume growth, being offset by expected decreases in private label coconut oil business and price/mix effects. Full year gross margin expected to be between 37% and 39%, with recent increases on certain ocean freight routes expected to adversely affect gross margins in the fourth quarter. SG&A expenses expected to be flat to slightly down versus 2023. Forecasting adjusted EBITDA in the range of $80 million to $84 million.