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Vital Farms Reports on Q2 of FY 2021

08/31/2021

In a press release dated August 10th Vital Farms (VITL), a Certified B Corporation announced results for the 2nd Quarter ending June 27th.

 

The following table summarizes the results for the period compared with the values for the corresponding quarter of the previous fiscal year (Values expressed as US$ x 1,000 except EPS)

 

2nd Quarter Ending

June 27th 2021

June 28th 2020

Difference (%)

Sales:

$60,324

$59,341

+1.7

Gross profit:

$21,933

$22,698

-3.3

Operating income:

$3,015

$9,062

-66.7

Pre-tax Income

Net Income1

$3,188

$3,907

$8,748

$5,964

-63.6

-84.8

Diluted earnings per share:

$0.09

$0.16

-43.8

Gross Margin (%)

36.3

38.3

-5.2

Operating Margin (%)

5.0

15.3

-67.3

Profit Margin (%)

6.5

10.1

-35.6

Long-term Debt and lease obligations*:

$275

$519

-47.0

12 Months Trailing:

     

Return on Assets (%)

3.7

   

Return on Equity (%)

8.6

   

Operating Margin (%)

3.4

   

Profit Margin (%)

3.7

   

Total Assets*

$181,708

$171,374

+6.0

Market Capitalization

$693,000

   

*June 27th 2021/Dec. 27th 2020

Note 1. $695,000 tax benefit in Q2 2021 compared to $2,848,000 payment in Q2 2020

 

52-Week Range in Share Price: $16.02 to $41.95 50-day Moving average $17.84

Market Close: August 10th $18.29. Market Close: August 31 st $18.00

Forward P/E 1.7K

 

Insiders hold 32 percent of the equity, institutions hold 74 percent. As at August 13th 17 percent of float was short.


In commenting on Q2 results Russell Diez-Canseco CEO stated, “The sustained growth Vital Farms has demonstrated in our first year as a public company is a testament to investments we’ve made in our crew members, in increasing capacity across our farmer network, which now stands at over 225 family farms and in the further expansion of Egg Central Station, our egg washing and packing facility. Looking ahead, we believe we are well-positioned for the future and will continue to execute our plan of investing across the business to further drive growth and fulfill our mission to bring ethical food to the table.”