Vital Farms reports Q3 EPS 16c, consensus 12c

Reports Q3 revenue $145.0M, consensus $145.27M. “Our sales momentum from the first half of the year carried into the third quarter of 2024 and we posted another strong topline result with net revenue of $145.0 million, 31.3% growth versus the same period last year. This great performance was made possible by all of the hardworking stakeholders across our organization who helped drive our mission of delivering ethical food to the table. Our appreciation goes out to our farmers, suppliers, customers, consumers, crew members, and stockholders who helped make this happen. Supported by our strong year-to-date performance and a positive outlook for the rest of the year, we are again raising our fiscal year 2024 expectations. Along with raising guidance, we are happy to report that we continue to invest in the long-term capacity of our business. We added to our network of now more than 375 family farms this quarter and our prep work for a new state-of-the-art egg washing and packing facility in Seymour, Indiana is well on track. These are exciting times for Vital Farms (VITL), and we are well on the road to meeting our $1 billion net revenue target by 2027,” said Russell Diez-Canseco, Vital Farms’ President and CEO.