Coconut water company The Vita Coco Company (NASDAQ: COCO) will be reporting earnings this Wednesday before market open. Here’s what to expect.
Vita Coco beat analysts’ revenue expectations last quarter, reporting revenues of $127.8 million, flat year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ adjusted operating income estimates.
Is Vita Coco a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Vita Coco’s revenue to grow 14% year on year, slowing from the 17.2% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Vita Coco rarely misses Wall Street’s revenue estimates.
Looking at Vita Coco’s peers in the beverages, alcohol, and tobacco segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Keurig Dr Pepper delivered year-on-year revenue growth of 9.4%, beating analysts’ expectations by 3.7%, and Constellation Brands reported a revenue decline of 11.3%, topping estimates by 2.3%. Keurig Dr Pepper traded up 9.3% following the results while Constellation Brands was also up 8.5%.
Read our full analysis of Keurig Dr Pepper’s results here and Constellation Brands’s results here.
There has been positive sentiment among investors in the beverages, alcohol, and tobacco segment, with share prices up 4.1% on average over the last month. Vita Coco is up 11.1% during the same time and is heading into earnings with an average analyst price target of $61.89 (compared to the current share price of $51.69).
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