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 has appointed Aishetu Fatima Dozie to its board of directors, effective June 1, 2022. With over 20 years in finance and entrepreneurship, Dozie brings valuable expertise to the board. The move aligns with the company’s objective to create a purpose-driven beverage brand. Co-Founder Mike Kirban expressed enthusiasm for her joining, highlighting her entrepreneurial success. Dozie, also the CEO of Bossy Cosmetics, has extensive experience in investment banking and a strong educational background from Cornell and Harvard.
Vita Coco (NASDAQ: COCO) has launched its first juice offering, Vita Coco Coconut Juice, available from June 2, 2022. This new product combines coconut water with bold flavors, offered in Original with Pulp and Mango varieties. Each 16.9 oz can contains 50 calories for the Original and 80 calories for the Mango variant. The drink is gluten-free, non-GMO, and targets consumers seeking a refreshing beverage for the summer. Retailing at $2.49 per can, it aims to expand Vita Coco's market reach while promoting a unique taste experience.
Vita Coco has launched its first juice product, Coconut Juice, available from June 2, 2022, in two flavors: Original with Pulp and Mango. This new offering combines coconut water with bold flavors, catering to consumers seeking refreshing, low-calorie options for summer. Each flavor is conveniently packaged in 16.9 oz aluminum cans, priced at $2.49 each. The product is available at 7-Eleven and online, promoting a healthier beverage choice that aligns with Vita Coco's commitment to organic and non-GMO ingredients.
The Vita Coco Company (NASDAQ:COCO) has announced participation in major investor conferences. CEO Martin Roper and CFO Kevin Benmoussa will present at the William Blair 42nd Annual Growth Stock Conference in Chicago on June 8, 2022, at 11:00 a.m. EST. Additionally, they will join Mike Kirban, Executive Chairman, for a virtual fireside chat at the Evercore ISI Consumer & Retail Conference on June 9, 2022, at 11:45 a.m. EST. Investors can access the webcast on the Company’s Investor Relations website and find archived replays post-event.
The Vita Coco Company reported a strong first quarter for 2022, with net sales increasing by 28% to $96 million. The growth was driven by a 38% rise in sales of Vita Coco Coconut Water. However, gross profit fell to $19 million, a margin decrease attributed to higher transportation costs. The company remains optimistic about achieving its fiscal year sales growth target of 16-20% and plans to increase prices to counteract ongoing cost pressures. Adjusted EBITDA showed a loss of $3 million, with expectations for improvement in gross margin for the remainder of the year.
The Vita Coco Company (NASDAQ:COCO) announced its management team's participation in two upcoming investor conferences. On May 17, 2022, Mike Kirban and CFO Kevin Benmoussa will engage in a fireside chat at the Goldman Sachs Global Staples Forum. Subsequently, on May 24, 2022, Kirban will join a panel discussion at the Credit Suisse HALO Investment Summit. The company, founded in 2004, is renowned for its innovative beverage brands, including Vita Coco coconut water and Runa clean energy drink, focusing on sustainability and health.
The Vita Coco Company (NASDAQ: COCO) announced a new leadership structure on May 2, 2022. Co-Founder Mike Kirban transitions to Executive Chairman, focusing on strategic growth, while Martin Roper remains as CEO, managing day-to-day operations. Kirban emphasized that the title change reflects their existing roles, designed to enhance productivity. Roper, with 24 years at The Boston Beer Company, aims to leverage his experience to build the team and execute plans effectively. The company’s senior team remains unchanged, continuing their efforts in pioneering the functional beverage market.
The Vita Coco Company (NASDAQ:COCO) is set to announce its financial results for the first quarter ending March 31, 2022, on May 11, 2022, after market close. A conference call to discuss these results will take place at 5:00 p.m. ET on the same day, with details provided for investors wishing to participate. The company, co-founded in 2004 by co-CEOs Michael Kirban and Ira Liran, is recognized for its innovative beverage brands including Vita Coco coconut water and other functional drinks, and is committed to balancing purpose with profit as a certified B Corp™.
The Vita Coco Company (NASDAQ: COCO) has published its inaugural Impact Report, highlighting sustainable and social initiatives from 2020-2021. The report outlines the goal to map the coconut carbon footprint by end-2022 and features three main pillars: environmental protection, health advocacy, and community support. Key achievements include building 30 classrooms, planting over 69,000 seedlings, and training 7,000 farmers. The company has donated over 6.5 million meals. In 2021, it became a Public Benefit Corporation and a Certified B Corporation, emphasizing its commitment to diverse workforce representation.
The Vita Coco Company has launched PWR LIFT, a new protein-infused water aimed at supporting the recovery of DEKA FIT athletes. Starting in 2022, PWR LIFT will be available at all U.S. DEKA FIT events, offering 10 grams of whey protein, electrolytes, and B-vitamins in a low-calorie drink. This initiative aligns with the growing isotonic drink market, which is expanding by over 10% annually. The partnership with DEKA FIT underscores the product's role in enhancing performance post-exercise.