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, 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.
Freshpet, Inc. (Nasdaq: FRPT) announced its executive team will attend the Deutsche Bank Global Consumer Conference in Paris, France. The presentation is scheduled for June 4, 2024, at 12:00 p.m. CEST / 6:00 a.m. EDT. A live webcast and replay will be accessible on the 'Investors' section of Freshpet's website. This participation highlights Freshpet's ongoing efforts to engage with investors and stakeholders globally.
Freshpet, Inc. reported strong first quarter 2024 financial results, showcasing a 33.6% increase in net sales, a 9.1% increase in gross margin, and a significant improvement in net income and adjusted EBITDA compared to the prior year. The company's focus on operational enhancements led to margin expansion and reduced SG&A expenses, resulting in increased profitability and shareholder value creation. Freshpet updated its 2024 outlook, with expected net sales of at least $950 million and adjusted EBITDA of at least $120 million, reflecting a positive growth trajectory.
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