Vital Farms reports Q2 EPS 36c, consensus 20c

Reports Q2 revenue $147.388M, consensus $138.42M. “Vital Farms got off to a great start in the first quarter of the year and we followed with another strong performance in the second quarter. We posted second quarter net revenue of $147.4 million, 38.5% growth versus the same period last year. I would like to thank all of our stakeholders who helped drive our mission of delivering ethical food to the table. This includes our farmers, suppliers, customers, consumers, crew members, and stockholders. Boosted by a strong first-half performance and our positive outlook for the balance of the year, we are raising our fiscal year 2024 expectations. Beyond 2024, we plan to continue to invest in the long-term health of our business. We have now passed a milestone of 350 family farms in our network, well on track to meet future demand. Additionally, with our plans for an additional state-of-the-art egg washing and packing facility in Seymour, Indiana, we are in the process of adding another cornerstone piece to our supply chain’s growing capacity to meet our $1 billion net revenue target by 2027,” said Russell Diez-Canseco, Vital Farms’ President and CEO.