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 announced the appointment of Ricardo Moreno as Vice President of Manufacturing, effective December 14, 2020. Mr. Moreno will lead all manufacturing operations at the company’s facilities in Bethlehem and Ennis, reporting to Steve Weise, EVP of Manufacturing and Supply Chain. He brings over 10 years of experience in manufacturing operations, previously serving as Regional Director at Bonduelle Fresh Americas. This addition aims to enhance leadership and focus on production amid the company’s growth and complexity.
Freshpet, Inc. (NASDAQ:FRPT) announced that its executive management will participate in a virtual fireside chat hosted by Baird on December 10, 2020, after market close. The webcast and presentation will be accessible on the company's website at 6:00 p.m. ET. Freshpet is dedicated to improving pets' lives through fresh, real food, using local ingredients and natural methods. Their products, kept refrigerated, are available across various retailers in the U.S., Canada, and Europe. For more information, visit www.freshpet.com.
Freshpet, Inc. (NASDAQ: FRPT) reported strong financial results for Q3 2020, with net sales of $84.2 million, a 29% increase year-over-year. Net income rose to $3.5 million compared to $3.1 million in the prior year. Adjusted EBITDA expanded by 42.2% to $17.0 million. The company completed its Freshpet Kitchens 2.0 expansion, enhancing production capacity to meet rising demand. For the first nine months, net sales climbed 30.1% to $234.3 million. Freshpet reiterated its full-year guidance, expecting net sales to exceed $320 million, a growth of over 30% from 2019.
Freshpet (NASDAQ: FRPT) has announced its third-quarter results reporting date for the period ending September 30, 2020, set for November 2, 2020, after market close. A conference call will follow at 4:30 p.m. ET on the same day, accessible by North American listeners at (877) 407-0792 and international listeners at (201) 689-8263. The call will be streamed live on Freshpet's website, with a replay available from 7:30 p.m. ET through November 16, 2020. Freshpet focuses on providing fresh, real food for pets, emphasizing quality and social responsibility.
Freshpet, Inc. (NASDAQ: FRPT) has appointed Heather Pomerantz as CFO effective October 1, 2020, following Dick Kassar's transition to Vice Chairman. Freshpet's finance leadership team also sees new appointments, including Steve Macchiaverna as Executive VP and Ivan Garcia as VP of Finance. Additionally, the company received over 84% shareholder support for eliminating supermajority voting provisions during the 2020 Annual Meeting of Stockholders, a key step in its governance improvement initiative.
Freshpet announced its participation in the virtual Barclays Global Consumer Staples Conference on September 8, 2020, at 4:40 p.m. ET. The event can be accessed via the Company’s website. Freshpet is committed to providing fresh, real food for pets, using local ingredients and small-batch cooking to ensure quality. Their products are available in various retailers across the U.S., Canada, and Europe, highlighting their dedication to transparency and social responsibility.
Freshpet (NASDAQ: FRPT) has initiated a multi-year plan to improve its corporate governance practices, as outlined in its definitive proxy statement for the 2020 Annual Meeting of Shareholders. The company's CEO emphasized that this evolution is in line with Freshpet's commitment to environmental, social, and governance (ESG) practices. Shareholder feedback will guide governance enhancements, including the removal of supermajority voting provisions and the introduction of policies for majority voting in director elections, a director resignation policy, and further transparency in corporate governance.
Freshpet, Inc. (NASDAQ: FRPT) has appointed Thembi Machaba as Senior Vice President of Human Resources, effective August 1, 2020. CEO Billy Cyr expressed enthusiasm about her joining the team, highlighting her extensive experience in leading diverse teams across competitive industries. Machaba has over 18 years of experience in human resources, previously serving as Vice President Global Human Resources at Molson Coors Beverage Company. Freshpet aims to improve pet nutrition through fresh, natural foods produced sustainably.
Freshpet announced it will release its second quarter results for 2020 on August 3, 2020, after market close. A conference call to discuss these results will begin at 4:30 p.m. ET the same day, with participation available via North American and international phone lines. The call will also be streamed live on Freshpet's website, where it will be archived for future access. The company is committed to enhancing pet well-being through fresh, natural food sourced from local farms.
Freshpet announced participation in the virtual Jefferies Consumer Conference on June 23 at 9:30 a.m. ET. The presentation will be accessible live from the Investors section of their website and archived online for later viewing. Freshpet focuses on enhancing the lives of pets through fresh, real food sourced locally, made in small batches, and kept refrigerated until delivery. Available in various retail formats across the U.S., Canada, and Europe, the company emphasizes integrity and social responsibility.
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