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 announces participation in the virtual 2022 ICR Conference on January 11, 2022, at 1:00 p.m. ET. The executive management team's presentation will be accessible via the Company's website. An accompanying presentation will be available before market open on January 10, 2022. Freshpet focuses on improving pet nutrition through fresh, real food made from locally sourced ingredients. Their products are refrigerated from production to retail to ensure quality and freshness, available at various retailers across the U.S., Canada, and Europe.
Freshpet Updates Sales Guidance Due to Manufacturing Issues
Freshpet has announced a revision in its 2021 net sales expectations to between $425 million and $430 million, alongside an adjusted EBITDA of approximately $42 million. The adjustments stem from temporary production decreases caused by supply chain issues related to packaging. CEO Billy Cyr emphasized the company's ongoing demand and improving retail conditions, despite these disruptions. Freshpet remains optimistic about its manufacturing capacity and future growth plans.
Freshpet (FRPT) reports a 27.8% revenue increase in Q3 2021, achieving net sales of $107.6 million, up from $84.2 million in Q3 2020. However, the company faced a net loss of $2.1 million, contrasting with a net income of $3.5 million in the prior year. Adjusted EBITDA decreased to $14.6 million from $17.0 million, influenced by rising costs due to supply chain issues and labor shortages. For 2021, Freshpet estimates net sales at ~$445 million and adjusts EBITDA guidance down to ~$50 million due to inflation and supply chain challenges.
Freshpet, Inc. (NASDAQ: FRPT) will announce its third-quarter results on November 8, 2021, after market close. A conference call for discussing these results is scheduled for 4:30 p.m. ET on the same day. North American participants can join by dialing (877) 407-0792, while international listeners can call (201) 689-8263. The call will also be streamed live on the Freshpet website and archived for later access. Freshpet focuses on providing fresh, real food for pets, utilizing locally sourced ingredients prepared in small batches.
Freshpet, Inc. (NASDAQ:FRPT) will participate in several upcoming investor conferences. The executive management team will present at the Barclays Global Consumer Staples Conference on September 9, 2021, at 1:20 p.m. ET, followed by a fireside chat at Cowen's 2nd Annual Health, Wellness & Beauty Summit on September 14, 2021, at 10:40 a.m. ET, and finally at the Jefferies Pet Summit on September 16, 2021, at 7:40 a.m. ET. All presentations will be virtual, accessible via the Company's website.
Freshpet, Inc. (Nasdaq: FRPT) reported a 35.8% increase in second-quarter 2021 net sales to $108.6 million, while facing a net loss of $7.5 million. The company's gross profit was $43.1 million, down from the prior year due to inflation in beef costs and increased processing expenses. Freshpet raised its full-year net sales guidance to exceed $445 million, reflecting a projected growth rate of ~40% compared to 2020. Adjusted EBITDA for the quarter was $10.9 million, marking a decrease from the previous year.
Freshpet (NASDAQ: FRPT) announced the planned retirement of Stephen Weise, Executive VP of Manufacturing & Supply Chain, expected at the end of 2022. Weise will continue to manage production capacity planning through 2021 before focusing solely on capacity planning in 2022. Chris Taranto will take over logistics, and Ricardo Moreno will oversee manufacturing at Freshpet Kitchens. CEO Billy Cyr emphasized Weise's contributions, noting the company's net sales growth of almost 4x during his tenure and the installation of over $1 billion in sales capacity before his retirement.
Freshpet, Inc. (NASDAQ: FRPT) will announce its second-quarter financial results on August 2, 2021, after market close. A conference call with the executive management team is scheduled for 4:30 p.m. ET on the same day, where they will discuss these results and provide additional insights. North American participants can join by calling (877) 407-0792, while international listeners may call (201) 689-8263. The call will also be available via live streaming on the company’s website, and an archived playback will be offered from August 2 to August 16, 2021.
Freshpet, Inc. (NASDAQ:FRPT) announces participation in three upcoming investor conferences. The executive management team will present at:
- William Blair 41st Annual Growth Stock Conference on June 1, 2021, at 2:20 p.m. ET.
- 2021 Stifel Cross Sector Insight Conference on June 10, 2021, at 9:20 a.m. ET.
- 21st Oppenheimer Annual Consumer Growth and E-Commerce Conference on June 16, 2021, at 9:55 a.m. ET.
All presentations will be virtual and available on Freshpet's website for live viewing and later access.
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