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) 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.
Freshpet Inc. (NASDAQ:FRPT) announced that its executive management will participate in a virtual fireside chat at the Goldman Sachs Global Staples Forum on May 18 at 9:40 a.m. ET. The presentation will be accessible live online and archived on the company's website.
Freshpet strives to enhance the lives of pets by providing fresh, real food made from locally sourced ingredients. Their products are available in various retail formats across the U.S., Canada, and Europe, emphasizing the company's commitment to quality and social responsibility.
Freshpet reported a strong first quarter for 2021, with net sales rising by 33.3% to $93.4 million. However, the company incurred a net loss of $10.9 million, worse than last year's loss of $3.6 million. Adjusted EBITDA improved by 35.3% to $7.8 million, reflecting robust sales growth. Gross profit decreased to 38.9% of net sales due to inflation and production costs. Freshpet maintains its optimistic 2021 guidance, projecting net sales above $430 million and Adjusted EBITDA over $61 million.
Freshpet, Inc. (NASDAQ: FRPT) will report its first quarter results for the period ending March 31, 2021, on May 3, 2021, after market close. A conference call with the executive management team will take place at 4:30 p.m. ET on the same day to discuss the results. North American listeners can participate by dialing (877) 407-0792, and international listeners may call (201) 689-8263. The call will also be streamed live on the Company’s website and archived for later access. Freshpet remains committed to providing fresh, real food for pets, made with natural ingredients.
Freshpet, Inc. (NASDAQ: FRPT) announced a follow-on offering of 2,100,000 shares of common stock priced at $143.00 each. The offering will close on February 26, 2021, subject to customary conditions. Additionally, underwriters have a 30-day option to buy up to 315,000 more shares. The offering is linked to an effective shelf registration statement filed with the SEC on February 25, 2020. BofA Securities, Baird, and Truist Securities are the primary managers for this offering.
Freshpet, Inc. (NASDAQ: FRPT) has announced a proposed follow-on offering of $300 million of its common stock, with an additional 30-day option for underwriters to purchase $45 million more. The offering will be managed by BofA Securities, Baird, and Truist Securities. An effective shelf registration statement was filed with the SEC on February 25, 2020, and the offering will be conducted via a prospectus supplement. This announcement comes amid ongoing efforts to enhance growth through fresh pet food products distributed across various retail channels.
Freshpet (NASDAQ: FRPT) reported strong financial results for Q4 2020, with net sales of $84.5 million, a 28.5% increase year-over-year. However, the company faced a net loss of $3.3 million, compared to a profit of $4.6 million in Q4 2019. For the full year, net sales grew 29.7% to $318.8 million, but a net loss of $3.2 million was reported. The company is raising its 2025 targets for household penetration from 8 million to 11 million and net sales from $1 billion to $1.25 billion, citing accelerated growth plans.
Freshpet (NASDAQ:FRPT) has announced participation in upcoming investor conferences. On February 24, 2021, at 9:00 a.m. ET, the Company will join the Truist 2021 Consumer Symposium for a fireside chat. Additionally, on March 9, 2021, at 4:30 p.m. ET, Freshpet will present at the BofA Securities 2021 Consumer & Retail Technology Conference. Finally, on March 11, 2021, at 2:00 p.m. ET, another fireside chat is scheduled at the D.A. Davidson 4th Annual Consumer Growth Conference. All these events will be virtual and accessible via the Company's website.
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