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Vita Coco (COCO) Reports Q3: Everything You Need To Know Ahead Of Earnings

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Coconut water company The Vita Coco Company (NASDAQ: COCO) will be reporting results this Thursday morning. Here’s what you need to know.

Vita Coco beat analysts’ revenue expectations last quarter, reporting revenues of $216.2 million, up 28.1% year on year. It was a stunning quarter for the company, with a beat of analysts’ EPS and gross margin 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 26% year on year, slowing from the 37.2% increase it recorded in the same quarter last year.

Vita Coco Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Vita Coco rarely misses Wall Street’s revenue estimates.

Looking at Vita Coco’s peers in the consumer staples segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Constellation Brands delivered year-on-year revenue growth of 6.1%, beating analysts’ expectations by 3.9%, and Conagra reported a revenue decline of 1.4%, in line with consensus estimates. Constellation Brands traded up 2.4% following the results while Conagra was down 6.6%.

Read our full analysis of Constellation Brands’s results here and Conagra’s results here.

Investors in the consumer staples segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. Vita Coco is up 8.4% during the same time and is heading into earnings with an average analyst price target of $78.60 (compared to the current share price of $62.08).

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