Vita Coco reports Q2 EPS 31c, consensus 18c

Reports Q2 revenue $139.645M, consensus $129.32M. Michael Kirban, the Company’s Co-Founder and Executive Chairman, stated, “I am very proud of our team and its continued strong performance this year. We have delivered our best quarter ever as our focus on expanding consumption of our brands through increased usage occasions is delivering strong volume performance for our flagship Vita Coco Coconut Water brand, particularly in the Americas. The improved profitability resulting from increased Vita Coco Coconut Water pricing and lower transportation costs has allowed us to increase investments designed to drive long term growth of our brands and improve the capability of our organization. We remain committed to our long-term goals and ambitions to create and maintain category leading brands in the broader, better-for you, functional beverage segment and remain excited about our opportunities.”