Vital Farms, Inc. (NASDAQ:VITL) Q3 2022 Earnings Conference Call November 3, 2022 8:30 AM ET

Company Participants

Matt Siler - Vice President, Investor Relations

Russell Diez-Canseco - President and CEO

Bo Meissner - Chief Financial Officer

Kathryn McKeon - Chief Marketing Officer

Conference Call Participants

Adam Samuelson - Goldman Sachs

Pamela Kaufman - Morgan Stanley

Cody Ross - UBS

Brian Holland - Cowen and Company

Robert Dickerson - Jefferies

Chris Growe - Stifel

Operator

Good day and thank you for standing by. Welcome to the Vital Farms Incorporated Third Quarter Conference Call. At this time all participants are in listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator instructions]

Please be advised that today’s conference is being recorded. I would now like to hand the conference over to your speaker today, Matt Siler. Please go ahead.

Matt Siler

Thank you. Good morning. And welcome to Vital Farms third quarter 2022 earnings conference call and webcast. I am joined on today’s call by Russell Diez-Canseco, President and Chief Executive Officer; Bo Meissner, Chief Financial Officer; and for the first time, I am happy to introduce Kathryn McKeon, our Chief Marketing Officer.

By now everyone should have accessed to the company’s third quarter 2022 earnings press release issued this morning. This is available on the Investor Relations section of the Vital Farms website at investors.vitalfarms.com.

During 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 and to the company’s quarterly report on Form 10-Q for the fiscal quarter ended September 25, 2022, which was filed with the SEC earlier 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 to its most comparable measure prepared in accordance with GAAP.