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Vital Farms, Inc. (Nasdaq: VITL) is an ethical food company committed to bringing ethically produced food to the table. Founded in 2007 on a single farm in Austin, Texas, Vital Farms has grown into a national consumer brand. The company works with over 300 family farms and is recognized as the leading U.S. brand of pasture-raised eggs by retail dollar sales.
Vital Farms specializes in the retail of pasture-raised eggs and butter, focusing on humane treatment of farm animals and sustainable farming practices. Their products include Pasture-Raised Eggs, Pasture-Raised Butter & Ghee, hard-boiled eggs, and liquid whole eggs. These products are available in approximately 24,000 stores nationwide and are also featured in menus at hundreds of foodservice operators across the country.
Each of the hens at Vital Farms enjoys at least 108 square feet of rotated pasture and forages outdoors year-round, resulting in highly nutritious and delicious eggs. Similarly, the cows producing milk for their butter are free to graze on pastures year-round. This milk is slow-churned in small batches to create butter that boasts 85% butterfat, making it one of the creamiest and highest-quality options available.
Vital Farms operates under the principles of Conscious Capitalism, prioritizing the well-being of their stakeholders which include farmers and suppliers, customers and consumers, communities and the environment, employees, and stockholders. In 2016, they were recognized as a Certified B Corporation, an acknowledgment of their commitment to social and environmental performance.
The company’s Egg Central Station (ECS) in Springfield, Missouri, was recently awarded the title of FOOD ENGINEERING’s 2023 Sustainable Plant of the Year. This facility processes up to 6 million eggs a day and is lauded for its energy efficiency and sustainability features, such as LED lighting, solar panels, and a best-in-class stormwater management system.
Vital Farms has also been active in community engagement and charitable efforts. They have recently collaborated with HomeState and Franklin Barbecue on a special breakfast taco initiative to raise funds for the Southern Smoke Foundation, a nonprofit supporting food and beverage industry workers.
For more information about Vital Farms, visit https://vitalfarms.com/.
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.
Vital Farms (Nasdaq: VITL) will report its Q3 financial results for the period ending September 27, 2020, on November 10, 2020, prior to market open. A conference call is scheduled for 8:30 a.m. ET on the same day to discuss these results. Known for its ethically produced, pasture-raised foods, Vital Farms is a leading brand in the U.S. for pasture-raised eggs and butter, with products available in about 14,000 stores nationwide. The company is committed to humane animal treatment and sustainable farming practices.
Vital Farms reported a robust Q2 2020, with net revenue rising 84% to $59.3 million, compared to $32.3 million last year. Gross profit increased to $22.7 million, representing a gross margin of 38.3%. Net income reached $5.9 million, doubling the previous year's $2.8 million, with EPS at $0.16. Adjusted EBITDA grew to $9.3 million. The company's successful IPO in August provided approximately $99.5 million for operational expansion. Management anticipates full-year revenues between $205 million and $210 million, driven by high demand amid COVID-19.
Vital Farms (Nasdaq: VITL) will report its second-quarter financial results on September 10, 2020, after market close. The call will take place at 4:30 p.m. ET, and interested parties can join via phone or a live webcast. Vital Farms is recognized as a leading brand in ethically produced pasture-raised foods, primarily eggs and butter. The company focuses on humane treatment of animals and sustainable farming practices, selling products in approximately 13,000 stores across the U.S.
Vital Farms (VITL) has launched a new product line called Egg Bites, catering to the growing demand for convenient, high-protein breakfast options. Egg Bites are made from ethically sourced, pasture-raised ingredients, available in four flavors and ready to eat in just 45 seconds. Each pack contains two egg bites with 16-18 grams of protein. They will be available in Whole Foods Market and select Target stores starting August 2020. This innovation aligns with the company’s commitment to ethical food production and meets consumer needs for quality and convenience.
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