Vital Farms, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
March 07, 2024 at 07:26 am EST
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Vital Farms, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 135.81 million compared to USD 110.08 million a year ago. Net income was USD 7.21 million compared to USD 1.87 million a year ago. Basic earnings per share from continuing operations was USD 0.17 compared to USD 0.05 a year ago. Diluted earnings per share from continuing operations was USD 0.17 compared to USD 0.04 a year ago.
For the full year, sales was USD 471.86 million compared to USD 362.05 million a year ago. Net income was USD 25.57 million compared to USD 1.25 million a year ago. Basic earnings per share from continuing operations was USD 0.62 compared to USD 0.03 a year ago. Diluted earnings per share from continuing operations was USD 0.59 compared to USD 0.03 a year ago.
Vital Farms, Inc. offers a range of ethically produced foods nationwide. The Company is a national consumer brand that works with over 300 family farms and is a United States brand of pasture-raised eggs. The Company focuses on the humane treatment of farm animals and sustainable farming practices. Its products, including shell eggs, butter, hard-boiled eggs, and liquid whole eggs, are sold in over 24,000 stores nationwide. The Company packages, markets and distributes shell eggs, butter, and other products. The retail varieties of its shell eggs are based on supplemental feed type, egg size, and pack size. Its egg packaging consists primarily of corrugated boxes and egg cartons. The Company offers unsalted and sea-salted varieties of its butter in two-stick and four-stick packs. The Companyâs products are principally sold under the name Vital Farms in addition to other trade names, primarily to retail and foodservice channels in the United States.