EarningsManagement now expects adjusted EBITDA in the range of $80M to $84M, reflecting a positive adjustment from prior estimates.
Financial PerformanceManagement raised its FY24 net sales guidance, implying strong growth in Q4, which is expected to be achievable given improving container availability and likely restocking at distributors and retail.
Market DemandSolid underlying growth for the coconut water category and the Vita Coco brand is observed, including the recent improvement in scanner data.