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 that its executive management team will participate in the 25th Annual ICR Conference in Orlando, FL. The presentation is scheduled for January 9, 2023, at 11:00 a.m. ET. Interested parties can access the conference via the 'Investors' section of Freshpet's website.
Freshpet focuses on improving the lives of pets by providing fresh, real food made from locally sourced ingredients. The company emphasizes integrity and transparency in its operations. Freshpet's products are available in various retailers across the U.S., Canada, and Europe.
Freshpet, Inc. (NASDAQ:FRPT) announced participation in the Stephens Investment Conference in Nashville, TN on November 16, 2022, at 9:00 a.m. ET. The event will be accessible via the 'Investors' section of their website. Freshpet focuses on providing fresh, real food for pets, sourcing local ingredients and preparing them in small batches to maintain quality. Their products are available across the U.S., Canada, and Europe through various retail channels. For more details, visit www.freshpet.com.
Freshpet reported third quarter 2022 net sales of $151.3 million, up 40.7% year-over-year. However, the company faced a net loss of $18.4 million, significantly higher than the previous year's loss of $2.1 million. Adjusted EBITDA dropped to $3.5 million, down from $13.5 million, primarily due to rising startup expenses and inflating ingredient and labor costs. Freshpet has adjusted its capital spending guidance for 2022 and 2023, reducing it by $100 million and reiterating its full year revenue guidance of over $575 million.
Freshpet, Inc. (NASDAQ: FRPT) announced the appointment of Todd Cunfer as Chief Financial Officer, effective December 1, 2022, following Dick Kassar’s interim role. Cunfer brings over 25 years of experience in finance, previously serving as CFO for The Simply Good Foods Company. Dirk Martin has also been named Vice President of Customer Service & Logistics, effective December 7, 2022. These appointments aim to enhance Freshpet's operational improvement plan initiated in August 2022, focusing on logistics and cost efficiencies, ultimately enhancing profitability.
Freshpet, Inc. (NASDAQ: FRPT) announced it will report its third-quarter results on November 1, 2022, after market close. The company will hold a conference call at 4:30 p.m. ET to discuss these results. Interested parties can join via phone or listen to the live broadcast on Freshpet's website. Freshpet focuses on providing fresh, real food for pets, utilizing natural ingredients and local sourcing. Their products are available in various retail formats across the U.S., Canada, and Europe.
Freshpet, Inc. (NASDAQ:FRPT) announced participation in the Jefferies Virtual Pet Care & Wellness Conference, scheduled for September 22, 2022, at 8:00 a.m. ET. The event can be accessed through the Company’s website.
Freshpet focuses on providing fresh, real food for pets, using locally sourced ingredients. Their products are carefully prepared in small batches, maintaining quality from production to market. Freshpet foods are available in various retail channels across the U.S., Canada, and Europe, emphasizing integrity and social responsibility.
Freshpet (Nasdaq: FRPT) announced organizational changes to enhance production, quality, and growth capabilities. CFO Heather Pomerantz will step down, with Dick Kassar serving as Interim CFO. Manufacturing expert Steve Weise will remain as a consultant, while Jay Dahlgren will assist in mitigating supply chain risks. The company reiterated its full-year guidance, targeting net sales of over $575 million (up 35%) and Adjusted EBITDA exceeding $48 million (up 12%). Capital expenditures are projected at $320 million, aimed at expanding operational capabilities and supporting growth.
Freshpet reported strong second quarter 2022 results, with net sales rising 34.4% to $146.0 million, primarily driven by pricing and distribution gains. However, the company faced a net loss of $20.6 million, worsening from a $7.5 million loss in the previous year. Adjusted EBITDA decreased to $3.9 million, reflecting inflated costs and operational challenges. The capital expenditure forecast was refined to $320 million, marking an $80 million reduction. Freshpet anticipates 2022 net sales exceeding $575 million and adjusted EBITDA surpassing $48 million.
Freshpet, Inc. (NASDAQ: FRPT) will report its second-quarter results on August 8, 2022, after market close. A conference call with the executive management team is scheduled for the same day at 4:30 p.m. ET to discuss these results. North American listeners can dial (877) 407-0792 for the live call. The call will also be available via live webcast on the Company’s website and archived for later access. Freshpet focuses on providing fresh, real food for dogs and cats, utilizing local ingredients, and maintaining a commitment to quality and transparency in its operations.
Freshpet, Inc. (NASDAQ:FRPT) announced its participation in William Blair's 42nd Annual Growth Stock Conference on June 9, 2022, at 9:00 a.m. ET, in Chicago, IL. The event will be accessible online through the Company's website. Freshpet is dedicated to enhancing pet nutrition with fresh, real food made from local ingredients. Their products are sold in various retailers across the U.S., Canada, and Europe, ensuring transparency and quality in their food preparation process.
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