Shares of The Vita Coco Company, Inc. (NASDAQ: COCO) soared 6.97% in pre-market trading on Wednesday following the release of its strong first-quarter 2025 financial results and an expansion of its share repurchase program.
The company reported Q1 net sales of $131 million, surpassing analysts' expectations of $125.5 million and marking a 17% increase from the same period last year. The growth was primarily driven by a 25% increase in Vita Coco Coconut Water sales. Earnings per share came in at $0.31, significantly beating the consensus estimate of $0.20 and representing a 29.17% year-over-year increase.
In addition to the strong financial performance, Vita Coco reaffirmed its full-year 2025 guidance, projecting net sales between $555 million and $570 million. The company's board also approved an additional $25 million for its share repurchase program, bringing the total authorized amount to $65 million. These positive developments, coupled with the company's robust growth in its core product line, have fueled investor optimism and contributed to the pre-market stock surge.
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