Vital Farms, Inc. (VITL) stock surged 5.72% in the pre-market session on Friday, outperforming the broader market. The soaring stock price followed the company's impressive full-year 2024 earnings report and promising growth outlook.
The company reported record revenue of $606.3 million for fiscal 2024, representing a 28% year-over-year increase. Net income soared 109% to $53.4 million, driven by higher revenue and improved profit margins. Earnings per share (EPS) of $1.25 surpassed analyst expectations by 5.6%.
Vital Farms' growth was fueled by a substantial expansion of its egg supply capacity and family farm network. The company added over 125 new family farms in 2024, increasing its egg sourcing capacity by more than 40%. Additionally, the company reached over 14 million households, reflecting a 20% increase in consumer base year-over-year.
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