Vital Farms: Eyes best day on revenue beat, higher earnings outlook

Vital Farms

11/05/2021 16:14

** Shares of egg seller  VITL.O  up 10.2% at $22.21 - on
course for all-time best session
    ** Vital Farms beats Refinitiv IBES estimates for Q1 net
revenue, boosted by strong demand for its eggs and butter from
retail partners amid a cook-at-home boom  urn:newsml:reuters.com:*:nGNX2hPsyM
    ** "We had a terrific start to the year," says CEO Russell 
Diez-Canseco
    ** Q1 net income rises about 79%, helped by lower material
costs for butter
    ** VITL now expects adjusted earnings before interest,
taxes, depreciation and amortization (EBITDA) between $7 mln and
$9 mln, up from a prior range of $6 mln to $8 mln
    ** Vital Farms also plans to launch egg-based breakfast bars
in early August  urn:newsml:reuters.com:*:nTRN4XrFvX
    ** Shares still down about 12% YTD

 (Reporting by Praveen Paramasivam in Bengaluru)
 ((Praveen.Paramasivam@thomsonreuters.com))