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The Vita Coco Company, Inc. (NASDAQ: COCO) is a pioneering force in the functional beverage industry, renowned for its flagship product, Vita Coco Coconut Water. Since its inception in 2004, the company has revolutionized the beverage market by introducing coconut water as a mainstream, premium lifestyle drink. Today, Vita Coco is a global brand with a presence in over 30 countries, celebrated for providing delicious, electrolyte-rich hydration.
Headquartered in New York City, The Vita Coco Company has diversified its product range to include coconut oil, coconut milk, and sparkling coconut water. In addition to Vita Coco, the company's product portfolio features several other brands such as Runa, a clean energy drink; Ever & Ever, a sustainable enhanced water; and PWR LIFT, a protein-infused water. These product offerings cater to a broad spectrum of consumer needs, from hydration and nutrition to wellness and fitness.
The company's commitment to environmental and social initiatives is demonstrated through The Vita Coco Project, launched in 2014. This project aims to support and empower coconut sourcing communities by distributing seedlings and trees, training farmers in regenerative agriculture, and constructing educational facilities. A recent partnership with Brazilian environmental nonprofit Apremavi underscores the company's dedication to global reforestation and biodiversity protection.
Despite its impressive growth, The Vita Coco Company remains true to its entrepreneurial roots, fostering a 'can-do' culture that continually seeks to unlock the full potential of the coconut. Financially, the company has shown robust performance, with a 15% net sales growth and a net income of $47 million in 2023. Its strategic initiatives and strong retail execution have driven category and brand growth, positioning the company for continued success in the years ahead.
To learn more about The Vita Coco Company and its commitment to creating healthier and more sustainable beverage options, visit vitacoco.com.
The Vita Coco Company (NYSE: COCO) announces its 12 Days of Treats-mas Giveaway, offering luxury pink prizes and Vita Coco Treats™ this December. The promotion includes daily prizes ranging from $1,000 to $60,000, featuring premium items like travel kits, jewelry, purses, and tech gadgets, with a pink SUV as the grand prize. Running from December 1-12, the giveaway will be hosted on Instagram. In conjunction with Giving Tuesday on December 3, Vita Coco will match the total prize value with a donation to Food Bank NYC. The campaign promotes their new product line, Treats, a strawberries and creme coconut beverage available at Target nationwide and select Costco locations.
Vita Coco Company (NASDAQ:COCO) reported Q3 2024 financial results with net sales decreasing 4% to $133 million, while Vita Coco Coconut Water grew 8%. Net income increased by $4 million to $19 million, with earnings per diluted share of $0.32. Gross margin was 39% compared to 41% in the prior year period. The company raised its full-year guidance, expecting net sales between $505-515 million and adjusted EBITDA of $80-84 million. Sales performance was affected by inventory flow issues due to ocean freight container shortages, though inventory situations improved by late September.
The Vita Coco Company (NASDAQ: COCO), a leading platform of better-for-you beverage brands, has announced it will report its third quarter 2024 financial results on October 30, 2024 before market open. The company will host a conference call and webcast to discuss these results at 8:30 a.m. ET on the same day.
Interested parties can register for the live earnings call and Q&A session at the provided link. A live audio webcast will be accessible in the 'Events' section of the company's Investor Relations website. An archived replay of the webcast will be available shortly after the event concludes.
The Vita Coco Company (NASDAQ: COCO) has launched the Vita Coco Growing Roots Grant (GRG) program in partnership with the Arbor Day Foundation. This initiative aims to fund innovative projects that incorporate tree and garden-related learning experiences in under-resourced schools and communities. The program offers School Greening grants to schools recognized through the Arbor Day Foundation's Tree Campus K–12 program.
Eligible projects include designing outdoor classrooms with tree planting, school or community gardens with fruit trees, and schoolyard forest tree planting. The GRG program aims to enhance school environments, improve air quality, boost biodiversity, and foster environmental stewardship. It also promotes health, wellness, and community resilience by creating outdoor spaces and developing leadership skills.
As a Public Benefit and certified B Corp, Vita Coco sees this program as part of its social impact initiative, the Vita Coco Project® (VCP), which focuses on empowering communities.
Vita Coco (NASDAQ: COCO) and Strava are launching a challenge to support runners ahead of the marathon on November 3. From October 7 to race day, Vita Coco will donate $1 for every mile run through the Strava challenge, up to $26,200, to &Mother, an organization supporting mom-athletes. The initiative aims to help runners balance their training with life's demands.
Vita Coco Coconut Water, rich in electrolytes and nutrients, is promoted as an ideal pre and post-workout drink. The company is also boosting runners' fundraising efforts up to $25,000 and planning various marathon-related activations, including a race day essentials giveaway and a post-race cocktail party in NYC.
The Vita Coco Company (NASDAQ: COCO) has partnered with international artist Becky G to create a new greenspace at Oak Street Elementary School in Inglewood, California. This 2,100-square-foot space, designed in collaboration with the school's PTA and local leaders, features garden plots, compost bins, fruit trees, and an outdoor classroom. The initiative is part of Vita Coco's social impact program, the Vita Coco Project, which aims to empower communities.
The project addresses the lack of access to greenspaces, particularly in Latin communities. Vita Coco is also launching the Growing Roots Grant program with the Arbor Day Foundation to fund similar projects in under-resourced schools and communities. As a Public Benefit and B Corp, Vita Coco aims to contribute positively to communities and environments, including its Seedlings for Sustainability initiative to distribute up to 10 million seedlings and trees by 2030.
The Vita Coco Company (NASDAQ:COCO) reported strong Q2 2024 financial results, with net sales increasing 3% to $144 million and Vita Coco Coconut Water growing 4%. Net income rose $1 million to $19 million, while Non-GAAP Adjusted EBITDA increased $8 million to $32 million. The company's gross margin improved to 41% from 37% in the prior year period. Vita Coco Coconut Water showed impressive growth of 14% in Circana US scan data MULO+C. The company reaffirmed its full-year guidance, expecting net revenue between $500-$510 million and Adjusted EBITDA between $76-$82 million. Despite temporary headwinds in ocean freight, the company remains focused on driving long-term growth of the coconut water category and its brands.
The Vita Coco Company (NASDAQ: COCO) has announced that it will release its second quarter 2024 financial results on July 31, 2024, before the market opens. The company, known for its better-for-you beverage brands, will host a conference call and webcast at 8:30 a.m. ET on the same day to discuss the results.
Interested participants can register for the live earnings call and Q&A session at the provided link. Additionally, a live audio webcast will be accessible through the company's Investor Relations website. An archived replay of the webcast will be made available shortly after the event concludes.
The Vita Coco Company (NASDAQ: COCO), a prominent player in the better-for-you beverage market, announced its participation in the 4th Annual Evercore ISI Consumer and Retail Conference. The virtual event is scheduled for June 12, 2024, with key company executives, CEO Martin Roper and CFO Corey Baker, hosting a fireside chat at 12:30 p.m. Eastern Time.
The presentation's live webcast will be available on the company's Investor Relations website, with an archived replay accessible shortly after. Investors can gain insights into the company's strategies and financial outlook through this event.
The Vita Coco Company, a prominent beverage brand, announced its participation in the William Blair Growth Stock Conference on June 5, 2024, in Chicago.
CEO Martin Roper and CFO Corey Baker will present at 8:00 a.m. Central Time. The live presentation will be available on the company's Investor Relations website, with an archived replay accessible after the event.
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