Vital Farms, Inc. (NASDAQ:VITL) Q2 2023 Earnings Conference Call August 3, 2023 8:30 AM ET

Company Participants

Matthew Siler - VP, IR

Russell Diez-Canseco - President and CEO

Thilo Wrede - CFO

Peter Pappas - Chief Sales Officer

Conference Call Participants

Pamela Kaufman - Morgan Stanley

Cody Ross - UBS

Matt McGinley - Needham

Matt Smith – Stifel

Robert Dickerson - Jefferies

Ben Klieve - Lake Street Capital Markets

Robert Moskow - TD Cowen

Operator

Good day, and thank you for standing by. Welcome to the Vital Farms Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the call over to your speaker today.

Matthew Siler

Thank you. Good morning, and welcome to Vital Farms Second Quarter 2023 Earnings Conference Call and Webcast. I'm joined on today's call by Russell Diez-Canseco, President and Chief Executive Officer; Thilo Wrede, Chief Financial Officer; and I'm happy to introduce Pete Pappas, our Chief Sales Officer.

By now, everyone should have access to the company's second quarter 2023 earnings press release issued this morning. This is available on the Investor Relations section of the Vital Farms website at investors.vitalfarms.com.

Through the course of this call, management may make forward-looking statements within the meaning of the federal securities laws. These statements are based on management's current expectations and beliefs and involve risks and uncertainties that could cause actual results to differ materially from those described in these forward-looking statements.

Please refer to today's press release under the company's quarterly report on Form 10-Q for the fiscal quarter ended June 25, 2023, filed with the SEC today and other filings with the SEC for a detailed discussion of the risks that could cause actual results to differ materially from those expressed or implied in any forward-looking statements made today.

Please note that on today's call, management will refer to adjusted EBITDA and adjusted EBITDA margin, which are non-GAAP financial measures. While the company believes these non-GAAP financial measures provide useful information for investors, the presentation of this information is not intended to be considered in isolation or as a substitute for the financial information presented in accordance with GAAP.

Please refer to our earnings release for a reconciliation of adjusted EBITDA and adjusted EBITDA margin to their respective most comparable measures prepared in accordance with GAAP.

And now I'd like to turn the call over to Russell Diez-Canseco, President, Chief Executive Officer of Vital Farms.