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Vital Farms (VITL) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Vital Farms (VITL) Q3 2026 earnings results →
Q3 2026 Revenue down 8% year over year to $182M · 4¢ of every $1 of revenue lost · operating margin -4.2%
Vital Farms made $182M in Q3 2026 (-8% Y/Y): Eggs and Egg Related Products $177M, Butter and Butter Related Products $4.9M. Operating margin -4.2%, net loss $6.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $182.2M in Q3 2026, down 8% year over year and up 10% from the previous quarter. Eggs and Egg Related Products was the largest line at 97% of revenue. Eggs and Egg Related Products lost $15.4M year over year (down 8%), 92% of the total change.
Gross margin was 23.1%, down 14.5 points from Q3 2025. Operating costs exceeded revenue by $7.7M, an operating margin of -4.2%. Operating expenses fell 7% while revenue fell 8%. The fastest-growing cost line was Other operating costs (+27%). The quarter ended with a net loss of $6.5M, narrower than the previous quarter's $31.1M loss.
Operating cash flow was −$8.5M. Non-cash charges added back $4.3M of depreciation and amortization and $3.1M of share-based compensation. Working capital and other items used $9.5M. Capital expenditures of $14.3M exceeded it, leaving free cash flow of −$22.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $182M | -8% | -4.2% | −$6.5M | −$8.5M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $166M | -10% | -24.2% | −$31.1M | −$27.4M |
| Q1 2026 | 10-Q | May 7, 2026 | $187M | +15% | -1.2% | −$1.5M | −$18.6M |
| Q4 2025 | 10-K | Feb 26, 2026 | $214M | +29% | 10.0% | $16.3M | $5.8M |
| Q3 2025 | 10-Q | Nov 4, 2025 | $199M | +37% | 10.8% | $16.4M | $23.4M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $185M | +25% | 12.9% | $16.6M | −$761K |
| Q1 2025 | 10-Q | May 8, 2025 | $162M | +10% | 13.4% | $16.9M | $5.3M |
Charts
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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Customers and suppliers named in filings
Sells to
- SHEL — 95% of its revenue · Stated in 10-K (sentence) · source
- KR — 11% of its revenue · Stated in 10-K (sentence) · source
About Vital Farms
Vital Farms’ aspiration is to become America’s most trusted food company. Every day, we aim to raise the standards in the food industry and disrupt industrial, factory food norms. Our eggs and butter are sourced through a distributed supply chain of small farms that uphold our high animal welfare standards and produce exceptional products. We believe this approach creates a more resilient business that has enabled us to continue growing through a dynamic chapter in our industry. Our purpose is to improve the lives of people, animals and the planet through food. We are committed to Conscious Capitalism, which prioritizes positive, long-term outcomes for all of our stakeholders – farmers and suppliers, customers and consumers, communities and the environment, employees, who we refer to as crew members, and stockholders.
In its own words, from its 10-K, filed Feb 26, 2026.
Vital Farms against its Food and Kindred Products peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -8% against the peers' median -8%. Operating margin: -4.2% against the peers' median 9.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| VITL Vital Farms | Q3 2026 | $182M | -8% | -4.2% |
| MDLZ Mondelez International | Q3 2026 | $10.0B | +2% | 17.6% |
| CAG Conagra Brands | Q1 FY27 | $2.6B | -1% | 10.3% |
| CPB Campbell's | Q4 FY26 | $2.1B | -8% | 0.2% |
| FLO Flowers Foods | Q2 2026 | $1.2B | -4% | 5.7% |
| BRBR Bellring Brands | Q3 FY26 | $570M | +4% | 11.5% |
| BGS B&G Foods | Q2 2026 | $383M | -10% | 9.0% |
| SMPL Simply Good Foods | Q4 FY26 | $333M | -10% | 13.8% |
| HAIN Hain Celestial Group | Q4 FY26 | $263M | -28% | -21.2% |
Source: Vital Farms 10-Q on SEC EDGAR · CIK 1579733 · Food and Kindred Products
Guidance and outlook
13F: who owns VITL and who is buying
More on VITL
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Vital Farms guidance history: guided vs reported
- Vital Farms gross margin by quarter
- Vital Farms operating margin by quarter
- Vital Farms net income by quarter
- Vital Farms capital expenditures by quarter
- Vital Farms Eggs and Egg Related Products revenue by quarter
- Vital Farms Butter and Butter Related Products revenue by quarter