The Vita Coco Company, Inc. (NASDAQ:COCO ) Q2 2024 Earnings Conference Call July 31, 2024 8:30 AM ET Company Participants John Mills - Managing Partner at ICR Michael Kirban - Co founder, Executive Chairman of the Board of Directors Martin Roper - Chief Executive Officer, Director Corey Baker - Chief Financial Officer Conference Call Participants Bonnie Herzog - Goldman Sachs Chris Carey - Wells Fargo Securities Michael Lavery - Piper Sandler Kaumil Gajrawala - Jeffries Eric Serotta - Morgan Stanley Eric Lauriers - Craig Hallum Capital Group Jim Salera - Stephens Robert Ottenstein - Evercore ISI Operator Hello, and welcome to The Vita Coco Company's Second Quarter 2024 Earnings Conference Call. My name is Karen.
Vita Coco Company, Inc. (COCO) came out with quarterly earnings of $0.32 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.26 per share a year ago.
Vita Coco Company's (COCO) second-quarter 2024 results are likely to reflect gains from brand strength and share in the coconut water category.
Vita Coco Company (COCO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Vita Coco Company (COCO) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
The Beverages - Soft Drinks players like KO, PEP, MNST, KOF and COCO appear robust due to strong consumer demand, innovation efforts, expansion into new categories and digital investments despite inflationary pressures.
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In the closing of the recent trading day, Vita Coco Company, Inc. (COCO) stood at $30.30, denoting a -1.75% change from the preceding trading day.
Vita Coco stock is recommended as a buy due to expected growth acceleration and margin expansion. The company reported earnings growth of 1.8% and beat gross margin expectations. Management raised FY24 net sales guidance and gross margin guidance, indicating potential for strong growth and profitability.
Here is how Vita Coco Company, Inc. (COCO) and Carlsberg AS (CABGY) have performed compared to their sector so far this year.
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