Vital Farms Lifts Annual Revenue Guidance Above View

(RTTNews) - Vital Farms, Inc. (VITL) on Thursday revised up annual revenue outlook, above Street view.

Thilo Wrede, CFO of Vital Farms, said: "Our new outlook reflects the strong performance of the business for the first nine months of this year and our good visibility for the fourth quarter of 2024. Our revised guidance is built around a favorable commodity outlook and strong consumer demand supported by our marketing reinvestment strategy."

For the full year, the company now expects revenue of at least $600 million, up at least 27 percent from last year, and higher than the previous outlook of at least $590 million.

Six-analysts, on average, polled by Thomson Reuters project the firm to generate revenue of $598.35 million, for the year. Analysts' estimates typically exclude special items. Excluding items, annual EBITDA is now anticipated to be at least $80 million, which represents a growth of at least 65 percent from last fiscal, and higher than previous guidance of at least $75 million.

Annual capital expenditure is now expected to be in the range of $30 million to $40 million against the prior outlook of $35 million to $45 million due to updated timing on some key projects.