Welcome to our dedicated page for Vita Coco news (Ticker: COCO), a resource for investors and traders seeking the latest updates and insights on Vita Coco stock.
The Vita Coco Company, Inc. reports developments across its portfolio of better-for-you beverage brands, led by Vita Coco coconut water and PWR LIFT protein-infused water. Company news commonly covers earnings results, sales trends for Vita Coco Coconut Water, full-year guidance, and the role of private label products in its beverage platform.
Updates also include product extensions such as Vita Coco Treats, brand partnerships and sampling programs, investor conference participation, index-related announcements, and impact reporting. As a public benefit corporation and Certified B Corporation, the company also discusses supply chain resilience, coconut growing communities, and sustainability initiatives tied to its coconut-based beverage business.
The Vita Coco Company (NASDAQ: COCO) announced its participation in the 25th Annual ICR Conference from January 9-11, 2023, in Orlando, Florida. Co-founder Michael Kirban and CEO Martin Roper will engage in a fireside chat on January 10, 2023, at 12:00 p.m. Eastern Time. Investors can access the live webcast in the 'Events' section of the Company’s Investor Relations website, with an archived replay available post-event. Founded in 2004, Vita Coco is a leader in the functional beverage space, offering products like coconut water and clean energy drinks.
The Vita Coco Company (NASDAQ: COCO) reported Q3 2022 net sales of $124 million, a 7% increase year-over-year, driven by a 14% growth in Vita Coco Coconut Water. Gross margin improved to 26.3%, albeit down from 33% a year earlier, while net income was $7 million (or $0.13 per diluted share), reflecting a decline from $13 million in Q3 2021. The company revised its full-year outlook, expecting net sales between $422-427 million, with continued pressure from transportation costs.
The Vita Coco Company (NASDAQ: COCO) will release its financial results for Q3 on November 9, 2022. The announcement includes details for an earnings call at 8:30 a.m. ET, where executives will discuss the quarterly performance. Founded in 2004, Vita Coco is recognized for its innovative beverage brands, including coconut water and protein-infused water, emphasizing sustainability.
This event provides investors a platform to gain insights into the company's financial standing and strategic direction.
The Vita Coco Company (NASDAQ: COCO) has partnered with HYROX to make PWR LIFT the official hydration sponsor for the 2022-2023 national HYROX events. PWR LIFT, a protein-infused beverage with 10 grams of whey protein and only 50 calories, will be available at U.S. HYROX races, assisting athletes in hydration and recovery. Key event dates include races in New York, Chicago, Dallas, and Los Angeles. The product aims to deliver effective hydration without sugar while promoting muscle growth and recovery post-exercise, making it a valuable resource for athletes.
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The Vita Coco Company reported a 13% increase in second quarter net sales to $115 million, driven by strong demand for its coconut water. However, gross profit remained flat at $29 million with a gross margin of 25%, a decrease from 28% last year due to rising transportation costs. Net income fell to $1 million, or $0.02 per diluted share, compared to $8 million, or $0.15 per share, in the prior year. Guidance for 2022 remains intact, with expectations of net sales between $440-455 million and adjusted EBITDA of $27-32 million.
The Vita Coco Company (NASDAQ: COCO) will report its financial results for Q1 ending June 30, 2022, on August 10, 2022, before market open. A conference call to discuss these results will occur at 8:30 a.m. ET on the same day, with registration required for participation. Founded in 2004, Vita Coco is a leader in the functional beverage sector, offering products like coconut water and clean energy drinks. The company aims to balance purpose and profit, catering to evolving consumer preferences.
Vita Coco (NASDAQ: COCO) is launching the World’s Biggest Coconut experience in Dallas from July 22-24, 2022, to promote its new Coconut Juice. This large-scale event features a giant inflatable coconut, local food trucks, games, and complimentary samples of the new drink. Vita Coco Coconut Juice, available in Original with Pulp and Mango flavors, is marketed as a refreshing beverage priced at $2.49 per 16.9 oz. can. The event aims to enhance brand visibility and engage local consumers in a fun summer atmosphere.
Diageo and Vita Coco have teamed up to launch Vita Coco Spiked with Captain Morgan, a line of premium canned cocktails. This collaboration combines Captain Morgan's spiced rum with Vita Coco's coconut water. The cocktails will feature three flavors: Piña Colada, Strawberry Daiquiri, and Lime Mojito, each with 5% ABV and sold in 12oz cans for $14.99 per 4-pack. The launch comes as the U.S. market sees a 269% growth in rum-based cocktails, indicating strong consumer demand for convenient, quality beverages.
The Vita Coco Company (NASDAQ: COCO) announces the departure of CFO Kevin Benmoussa, effective August 31, to pursue new opportunities. Benmoussa has been instrumental in the company's growth since 2018, supporting the initial public offering in October 2021. The company will conduct a search for his replacement. CEO Mike Kirban praised Benmoussa's contributions during his tenure, particularly during the challenges posed by the pandemic. The Vita Coco Company is recognized for its healthier beverage brands.