The Vita Coco Company, Inc. (COCO Quick QuoteCOCO - Free Report) reported second-quarter 2026 earnings of 82 cents per share, up 115.8% year over year. The figure beat the Zacks Consensus Estimate of 56 cents by 46.4%.

Net sales rose 28% to $216 million and surpassed the consensus mark of $212 million. Growth reflected strong branded demand, improved pricing, higher volumes and a 78.1% increase in Private Label.

On July 22, 2026, the company announced that it acquired Copra, Inc., which is among the key producers of super-premium Thai Nam Hom coconut water.

Over the past three months, this Zacks Rank #2 (Buy) company’s shares have gained 34.3%, outpacing the industry’s 2.7% growth.

COCO Sales Gain on Broad-Based Demand

Vita Coco Coconut Water sales increased 21% year over year to $169.7 million. Case-equivalent volume advanced 15%, supported by stronger consumer demand across the company’s major markets and favorable net pricing.

Private Label sales surged 82.8% to $38.2 million. The improvement reflected new and regained distribution, higher retail velocities and particularly strong shipment growth in both operating regions. Other product sales increased 9.6% to $8.2 million.

Vita Coco Margin Expands on Tariff Refunds

Gross profit jumped nearly 72% year over year to $105.3 million. Gross margin expanded substantially year over year to 48.7%, benefiting from $15.6 million of tariff refunds, improved pricing, lower ocean freight rates and reduced finished-goods costs.

The tariff refunds contributed roughly 700 basis points to the quarterly gross margin. These benefits were partly offset by higher domestic transportation expenses. Management expects current product-cost pressures to weigh on margins during the remainder of the year.

Selling, general and administrative expenses increased 16.7% to $42.2 million. The rise reflected higher incentive compensation, headcount growth, stock-based compensation and additional investments in sales and marketing.

Operating income more than doubled to $63.1 million from $25.1 million. Adjusted EBITDA climbed 129.9% to $67.2 million, as higher gross profit more than offset increased operating investments.

COCO International Growth Outpaces Americas

Americas net sales increased 21.5% to $172.5 million, slightly missing the Zacks Consensus Estimate of $174 million. Vita Coco Coconut Water sales in the region rose 14.5%, while Private Label revenues climbed 83.2%. Branded growth reflected higher volume and pricing.

International sales surged 63% to $43.7 million, outpacing the consensus estimate of $33.8 million. Vita Coco Coconut Water revenues advanced 59.8%, driven by strong volume growth in Europe, particularly in the United Kingdom and Germany. International Private Label sales increased 82.1% on robust demand and favorable pricing.

COCO Ends Quarter With Strong Liquidity

Vita Coco closed the second quarter with $278.6 million in cash and cash equivalents, up from $196.9 million at the end of 2025. The company had no outstanding balance under its $60 million revolving credit facility. 

Inventory declined 25.7% year over year to $82.9 million, reflecting strong first-half shipments. Operating cash flow totaled $96.5 million for the first six months of 2026 compared with $12 million in the prior-year period.

The company’s board subsequently approved an additional $40 million authorization, increasing the total share-repurchase program to $105 million.

Vita Coco Raises 2026 Outlook

Management raised its 2026 net sales guidance to $790-$805 million, up from $720-$735 million predicted earlier. The outlook calls for high-teens to 20% growth in Vita Coco Coconut Water sales and continued strength in Private Label shipments.

Gross margin is now expected to be approximately 40%, up from the prior projection of 38%. The revised view reflects tariff refunds, pricing and lower ocean freight costs, partly offset by higher product costs and an unfavorable product mix.

Adjusted EBITDA is projected between $154 million and $161 million, up from the previous range of $132-$138 million. The revised forecast includes the remaining-year contribution from Copra, which Vita Coco acquired in July 2026.

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