Welcome to our dedicated page for Freshpet news (Ticker: FRPT), a resource for investors and traders seeking the latest updates and insights on Freshpet stock.
Freshpet, Inc. (NASDAQ: FRPT) is a leading American pet food company specializing in producing and marketing fresh, all-natural refrigerated dog and cat food. Headquartered in Secaucus, New Jersey, Freshpet sets itself apart by using premium ingredients to create nutritious meals, which are cooked in small batches at lower temperatures to preserve their natural goodness.
Founded in 2006, Freshpet's mission is straightforward: to bring the transformative power of fresh food to pets everywhere, in ways that benefit not just pets but also people and the planet. Their commitment to sustainability and social responsibility is evident in every aspect of their operation, from partnering with farmers who share their values to maintaining eco-friendly production facilities in Bethlehem, PA, and Ennis, TX.
The company has experienced rapid growth and is currently the fastest-growing pet food brand in the United States. Freshpet's products are available in over 16,000 stores, including grocery, mass, club, pet specialty, and natural food retailers. The distribution model prominently features company-owned refrigerators to ensure product freshness, with grocery stores driving most of the footprint growth.
Financially, Freshpet has also shown robust performance. As of June 30, 2023, the company reported cash and cash equivalents and short-term investments of $358.5 million, with a debt of $391.9 million net of fees. The company’s latest update reiterates its net sales and capital expenditure guidance for the full year 2023 while updating its Adjusted EBITDA guidance.
In a significant move to strengthen its governance, Freshpet recently appointed Timothy McLevish and Joseph E. Scalzo to its Board of Directors following a cooperation agreement with JANA Partners, one of its largest shareholders. Both new board members bring extensive experience in financial and operational leadership, promising to add substantial value as Freshpet continues to capitalize on its growth opportunities.
Freshpet's commitment to innovation and quality has earned it a significant market share, with 96% of its sales concentrated in the U.S. market, and the remaining 4% coming from Canada, the United Kingdom, and other European countries. Dog food accounts for 92% of their sales, while cat food and treats make up the rest.
For more updates and detailed financial performance, investors can visit Freshpet’s investor relations page or follow their social media channels.
Freshpet (Nasdaq: FRPT) has announced its executive management team's upcoming participation in the Morgan Stanley Global Consumer & Retail Conference in New York. The presentation is scheduled for Wednesday, December 4, 2024, at 2:15 p.m. EST. Interested parties can access both the live webcast and replay of the presentation through the 'Investors' section on Freshpet's official website.
Freshpet reported strong Q3 2024 financial results with net sales increasing 26.3% to $253.4 million, marking the 25th consecutive quarter of >25% year-on-year growth. The company achieved net income of $11.9 million, compared to a $7.2 million loss in the prior year. Gross margin improved to 40.4% from 33.0%, while Adjusted EBITDA reached $43.5 million, up from $23.2 million. Based on strong performance, Freshpet raised its 2024 guidance, projecting net sales of ~$975 million and Adjusted EBITDA of at least $155 million.
Freshpet, Inc. (Nasdaq: FRPT) has announced that it will release its third quarter 2024 financial results on Monday, November 4, 2024, before the market opens. The company will host a conference call with executive management to discuss the results at 8:00 a.m. ET on the same day.
Investors can participate in the live call by dialing (877) 407-0792 in North America or (201) 689-8263 internationally. The call will also be broadcast live on the 'Investors' section of Freshpet's website at www.freshpet.com and archived for later access. A telephonic playback will be available from 12 p.m. ET, November 4, 2024, through November 18, 2024, with dial-in numbers provided for both North American and international listeners.
Freshpet (NYSE: FRPT) has launched its first-ever apparel collection in collaboration with global superstar Meghan Trainor for the holiday season. The collection includes 'Dog Mom' and 'Dog Dad' sweatshirts, along with other pet-related products, available exclusively on shop.freshpet.com. All proceeds from sales will be donated to Freshpet's partner animal rescues, including St. Hubert's Animal Welfare Center, Pennsylvania SPCA, Stray Dog Rescue, and Wags & Walks LA.
The collection features long-sleeved sweatshirts, a green bandana, and a green stainless-steel dog bowl, with prices ranging from $49.95 to $69.95. This initiative is part of Freshpet's ongoing partnership with Meghan Trainor, which began in April 2024 with the release of her song 'I'm a Dog Mom' and accompanying music video.
Freshpet Inc (Nasdaq: FRPT) has announced an inducement grant for its new Chief Operating Officer, Nicki Baty. The Compensation and Human Capital Management Committee approved an equity award of 17,150 restricted stock units effective September 1, 2024. This grant, made outside the company's 2014 Omnibus Incentive Plan, complies with NASDAQ Listing Rule 5635(c)(4).
The restricted stock units will vest over three years: 33.3% in the first year, 39.5% in the second year, and 27.2% in the third year, contingent on Ms. Baty's continued employment. This inducement grant is designed to align the new COO's interests with those of Freshpet's shareholders and incentivize long-term commitment to the company.
Freshpet (Nasdaq: FRPT) has appointed Nicki Baty as Chief Operating Officer, effective September 1, 2024. Baty, with nearly 20 years of experience at Colgate-Palmolive, most recently served as President and General Manager of Hill's Pet Nutrition U.S. She brings expertise in scaling businesses, driving transformative growth, and leading international operations.
Scott Morris, Freshpet's President and Co-Founder, will continue to focus on developing the company's future product portfolio and growth strategies. Baty's commercial responsibilities will initially be to Mass, Grocery, and Club channels until May 10, 2025. This strategic move aims to strengthen Freshpet's organizational capabilities as it pursues ambitious growth targets in the fresh pet food industry.
Freshpet Inc. (Nasdaq: FRPT) has announced its participation in two upcoming investor conferences in September 2024. The company's executive management team will engage in fireside chats at the following events:
1. Barclays 17th Annual Global Consumer Staples Conference on Thursday, September 5, 2024, at 2:15 p.m. EDT.
2. Piper Sandler Growth Frontiers Conference on Tuesday, September 10, 2024, at 1:00 p.m. CDT / 2:00 p.m. EDT.
Both events will feature live webcasts and replays, which will be accessible on the 'Investors' section of Freshpet's website at www.freshpet.com. This announcement highlights Freshpet's commitment to engaging with investors and sharing insights about the company's performance and strategies.
Freshpet, Inc. (Nasdaq: FRPT) reported strong financial results for Q2 2024, with net sales increasing 28.3% to $235.3 million, driven entirely by volume growth. The company saw significant improvements in profitability and operating cash flow. Gross margin rose to 39.9% from 32.3% in the prior year period, while Adjusted EBITDA increased to $35.1 million from $9.0 million. Freshpet raised its 2024 guidance, now expecting net sales of at least $965 million (up 26% from 2023) and Adjusted EBITDA of at least $140 million. The company's strong performance in the first half of 2024 has increased confidence in achieving its 2027 targets.
Freshpet, Inc. (Nasdaq: FRPT) has announced that it will release its second quarter 2024 financial results on Monday, August 5, 2024, before the market opens. The company will host a conference call at 8:00 a.m. ET on the same day to discuss the results with additional comments and details.
Investors and analysts can participate in the live call by dialing (877) 407-0792 for North America or (201) 689-8263 for international listeners. The call will also be broadcast live on the 'Investors' section of Freshpet's website and archived for later access. A telephonic playback will be available from 12 p.m. ET, August 5, 2024, through August 19, 2024, with separate dial-in numbers for North American and international listeners.
Freshpet announced its participation in the upcoming Deutsche Bank Global Consumer Conference in Paris, France. The event will take place on June 5, 2024, at 12:00 p.m. CEST / 6:00 a.m. EDT, featuring members of the company's executive management team. A live webcast and replay of the presentation will be accessible via Freshpet's website under the 'Investors' section. This participation highlights Freshpet's ongoing efforts to engage with global investors and showcase its market strategy.
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