Freshpet Inc is a company that specializes in producing and marketing fresh, refrigerated pet food. By using high-quality, natural ingredients without artificial preservatives, Freshpet aims to provide healthier meal options for pets, responding to the growing consumer demand for premium pet nutrition. Its product range includes various recipes tailored for dogs and cats, available in convenient formats such as rolls, bags, and trays. Freshpet operates its own production facilities to ensure the freshness and safety of its offerings, and its products are distributed through a network of retailers across the United States and beyond, emphasizing a commitment to the well-being of pets and their families.
Shares of pet food company Freshpet (NASDAQ:FRPT)
jumped 12.8% in the afternoon session after the company reported a "beat and raise" quarter. Third-quarter results exceeded Wall Street's sales, EPS, and EBITDA estimates. Interestingly, the company delivered the 25th consecutive quarter of +25% year on year sales growth, highlighting management's ability to deliver on its growth strategy while meeting the demand of its target audience.
Looking ahead, the strong sales and profitability enabled the company to raise both full-year revenue and EBITDA guidance, as both metrics came in ahead of consensus.
Overall, we think this was a strong quarter.
Pet food company Freshpet (NASDAQ:FRPT) reported Q3 CY2024 results exceeding the market’s revenue expectations, with sales up 26.3% year on year to $253.4 million. The company expects the full year’s revenue to be around $975 million, close to analysts’ estimates. Its GAAP profit of $0.24 per share was also 128% above analysts’ consensus estimates.
Earnings results often indicate what direction a company will take in the months ahead. With Q2 behind us, let’s have a look at Freshpet (NASDAQ:FRPT) and its peers.
Retail sales offer the last big economic report before the Fed meeting that will deliver the first rate-cut in years. The S&P 500 is near a record high.
