Welcome to our dedicated page for Vital Farms news (Ticker: VITL), a resource for investors and traders seeking the latest updates and insights on Vital Farms stock.
Vital Farms, Inc. (Nasdaq: VITL) is a Certified B Corporation and Delaware public benefit corporation that focuses on pasture-raised eggs and related egg-based foods. Started on a single farm in Austin, Texas in 2007, the company has become a national consumer brand working with more than 500, and in some disclosures 575, family farms. Its products, including shell eggs, butter, hard-boiled eggs, and liquid whole eggs, are sold in tens of thousands of retail stores and used by hundreds of foodservice operators across the United States.
The VITL news feed highlights company developments that matter to investors and followers of the ethical food and consumer staples sectors. Regular news items include quarterly financial results, updates on long-term revenue targets, and details on capacity expansions such as the Seymour, Indiana facility known as Vital Crossroads (VXR) and additional production lines at Egg Central Station in Springfield, Missouri. These updates provide insight into how Vital Farms is scaling its supply chain while maintaining its focus on animal welfare and sustainable farming practices.
News coverage also features participation in investor conferences, investor days, and communications about the company’s strategic priorities. In addition, Vital Farms occasionally announces marketing campaigns tied to its pasture-raised eggs, such as a one-time batch of dog treats made with Vital Farms eggs to celebrate working dogs on family farms and in homes, which the company notes is not a new retail category.
By following Vital Farms news, readers can see how management describes demand trends for its pasture-raised products, the growth of its family farm network, and the investments it makes in processing capacity and digital systems. For ongoing context on VITL, this page aggregates these announcements in one place.
Vital Farms (Nasdaq: VITL) announced that CEO Russell Diez-Canseco and CFO Bo Meissner will participate in a fireside chat at the 2021 Annual ICR Conference, hosted by Rupesh Parikh of Oppenheimer & Co. This event is scheduled for January 12, 2021, at 10:30 a.m. ET. Interested parties can access the live webcast via the Investor Relations site. A replay will be available for 90 days. Vital Farms, recognized for its ethical pasture-raised foods, partners with around 200 small family farms and is a leading brand in the U.S. for pasture-raised eggs and butter.
Vital Farms (Nasdaq: VITL) has appointed Kofi Amoo-Gottfried to its board of directors, effective January 4, 2021. Amoo-Gottfried, a marketing executive with nearly 20 years of experience, currently serves as Vice President of Marketing at DoorDash. His diverse background includes roles at Facebook and Bacardi, focusing on brand strategy and consumer marketing. This addition brings the board to nine members, with Amoo-Gottfried serving on the nominating and corporate governance committee. Vital Farms emphasizes ethical food production and engages with around 200 family farms nationwide.
Vital Farms (NASDAQ: VITL) announced Bo Meissner's appointment as Chief Financial Officer (CFO) effective December 28, 2020. Meissner, who has over 30 years of experience in consumer packaged goods, was previously the Executive VP of Finance at Vital Farms. Jason Dale will continue as Chief Operating Officer (COO). The transition reflects the company’s commitment to growth, with Meissner expected to enhance financial strategy and operations. Vital Farms continues to expand its portfolio of ethically sourced pasture-raised foods across approximately 16,000 stores nationwide.
Austin-based Vital Farms (Nasdaq: VITL), a Certified B Corporation, announced participation in two virtual investor conferences. On December 3, 2020, CEO Russell Diez-Canseco and CFO Jason Dale will present a fireside chat at the Morgan Stanley Global Consumer & Retail Conference at 1:00 p.m. ET. The session will be accessible via the Vital Farms Investor Relations site. On December 9, 2020, Diez-Canseco will join a panel at the BMO 2020 Growth & ESG Conference at 11:00 a.m. ET. Vital Farms is recognized for its ethically produced pasture-raised foods and is a leading brand in the U.S. market.
Vital Farms and King Arthur Baking Company have launched a holiday DIY cookie kit to foster connections during the holiday season. Priced at $25, the kit includes essentials for baking and gifting cookies, featuring a specially designed recipe and packaging. Both brands, certified B Corporations, are donating to Cookies for Kids’ Cancer, which has helped fund over $16 million for pediatric cancer research. The initiative encourages recipients to share their baking experiences online using the hashtag #BakeitForward.
Vital Farms (NASDAQ: VITL), a Certified B Corporation, announced upcoming virtual presentations by CEO Russell Diez-Canseco and CFO Jason Dale. The first event is a fireside chat at the Jefferies West Coast Consumer Conference on November 16, 2020, at 11:30 a.m. ET, accessible via the Investor Relations site. The next day, they will join a panel on sustainability at the Goldman Sachs Sustain Fall Symposium at 9:00 a.m. ET. Vital Farms emphasizes ethical practices in producing pasture-raised foods and ranks as the leading U.S. brand in this category.
Vital Farms announced an underwritten public offering of 5,000,000 shares of common stock at $30.25 each, with an additional 750,000 shares offered to underwriters. The offering, set to close on November 16, 2020, involves selling stockholders and will not generate proceeds for Vital Farms. Goldman Sachs, Morgan Stanley, Credit Suisse, and Jefferies are leading the offering, which aims to enhance liquidity. The firm is a leading provider of pasture-raised foods in the U.S.
Vital Farms (Nasdaq: VITL) announced a public offering of 5,000,000 shares of common stock by certain selling stockholders, with an option for underwriters to purchase an additional 750,000 shares. Importantly, Vital Farms will not receive any proceeds from this sale. The offering is subject to market conditions, and there is no assurance of completion. Major underwriters include Goldman Sachs, Morgan Stanley, Credit Suisse, and Jefferies. A registration statement has been filed with the SEC, but the shares cannot be sold until effective.
Vital Farms reported a 57% increase in net revenue to $53.4 million for Q3 2020, driven by higher demand for eggs and butter due to COVID-19. Gross profit rose to $18.4 million with a gross margin increase of over 300 basis points. Net income reached $1.7 million, doubling from the previous year, while adjusted EBITDA was $3.7 million. The company expects full-year 2020 revenue between $210 million to $214 million, representing a growth of over 49%. Despite strong performance, there is uncertainty regarding sustained demand post-pandemic.
Vital Farms has appointed Peter Pappas as Chief Sales Officer, bringing over 30 years of experience in consumer food and beverage sales. Previously, Pappas held leadership roles at companies like Califia Farms and MillerCoors. His role will involve driving sales growth across retail and food service, reporting directly to CEO Russell Diez-Canseco. Vital Farms, recognized for its ethical farming practices, is the leading U.S. brand of pasture-raised eggs and butter, operating approximately 16,000 stores nationwide.
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