Shares of Freshpet (FRPT -3.92%) were barking up a tree this week as the maker of perishable dog and cat food delivered a strong fourth-quarter earnings report with a solid improvement in profitability and another quarter of strong revenue growth.As of Thursday's close, the stock was up 23% for the week. Freshpet gets a boneFreshpet's revenue in the quarter rose 29.9% to $215.4 million, well ahead of the analyst consensus of $204.4 million. The company marked its sixth straight year of revenue growth above ...

For those looking to find strong Consumer Staples stocks, it is prudent to search for companies in the group that are outperforming their peers. Freshpet (FRPT) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.Freshpet is one of 193 individual stocks in the Consumer Staples sector. Collectively, these companies sit at #14 in the Zacks Sector Ra ...

Freshpet, Inc. (FRPT) delivered remarkable fourth-quarter 2023 results, with the top and bottom lines increasing year over year. Also, both metrics beat the Zacks Consensus Estimate.The company has enhanced its organizational structure, achieving improved margins through enhanced operational efficiency in logistics, input costs and quality. This progress is reflected in its confidence in achieving its long-term Fresh Future goals.FRPT’s strategic initiatives include expanding production capacity to meet dem ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...

Shares of pet food company Freshpet (FRPT 17.35%) surged higher on Monday after the company reported completed financial results for 2023. As of 10:40 a.m. ET, Freshpet stock was up 19% and had hit new 52-week highs.Business is booming for FreshpetIn the fourth quarter of 2023, Freshpet had net sales of $215 million, its highest ever and up 30% from the prior-year period. This was almost $12 million more than what management had expected. And the good news is that its growth was driven by a 25% increase in ...

Freshpet (FRPT) came out with quarterly earnings of $0.31 per share, beating the Zacks Consensus Estimate of $0.09 per share. This compares to loss of $0.06 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 244.44%. A quarter ago, it was expected that this seller of refrigerated fresh pet food would post a loss of $0.20 per share when it actually produced a loss of $0.15, delivering a surprise of 25%.Over the last four quarters, ...

Full Year 2023 Net Sales and Adjusted EBITDA Exceed Company GuidanceSixth Consecutive Year of >25% Net Sales GrowthProvides Full Year 2024 Outlook SECAUCUS, N.J., Feb. 26, 2024 (GLOBE NEWSWIRE) -- Freshpet, Inc. ("Freshpet" or the "Company") (NASDAQ:FRPT) today reported financial results for its fourth quarter and full year ended December 31, 2023. Fourth Quarter 2023 Financial Highlights Compared to Prior Year Period Net sales of $215.4 million, an increase of 29.9%Net income of $15.3 million, compared to ...

Market Presence and Sales - As of December 31, 2023, Freshpet's household penetration in the U.S. was approximately 11.5 million, with a target of reaching 20 million households by 2027[14]. - Freshpet operates in approximately 26,777 stores, with about 22% of these stores featuring second and third Freshpet Fridge placements[53]. - In 2023, Walmart accounted for 23.4% of Freshpet's net sales, while the largest distributor, Animal Supply Co., represented 9.0% of net sales[54]. - Freshpet's network includes approximately 26,777 retail locations, enhancing brand visibility and consumer engagement[63]. - The company has expanded into the UK market, selling products in approximately 544 stores, indicating growth in international operations[127]. Financial Performance - Net sales increased by $171.6 million, or 28.8%, to $766.9 million for the twelve months ended December 31, 2023, compared to the prior year, primarily driven by volume gains of 20%[188]. - Gross profit was $250.9 million, or 32.7% of net sales, for the twelve months ended December 31, 2023, an increase from $186.0 million, or 31.2% of net sales, in the prior year[189]. - Adjusted EBITDA was $66.6 million, or 8.7% of net sales, for the twelve months ended December 31, 2023, compared to $20.1 million, or 3.4% of net sales, in the prior year[198]. - The net loss decreased by $25.9 million to $33.6 million for the twelve months ended December 31, 2023, compared to a net loss of $59.5 million in the prior year[197]. - The company reported a net loss of $33.6 million for 2023, an improvement from a net loss of $59.5 million in 2022[206]. Manufacturing and Operations - Freshpet's manufacturing network includes three facilities, with the Ennis, Texas facility expected to complete its second phase by the end of Q3 2024[44]. - Approximately 99.1% of Freshpet's product volume was manufactured using Freshpet-owned equipment in 2023[45]. - Manufacturing capacity expansion is crucial; failure to align manufacturing capabilities with demand could materially affect business operations[104]. - The company's Freshpet Fridges are critical to success; any harm to their operating capacity could negatively impact brand reputation and sales[108]. Marketing and Brand Strategy - Freshpet's marketing strategy focuses on educating consumers about the benefits of fresh refrigerated pet food and increasing brand awareness through various channels[61]. - Freshpet aims to increase brand loyalty and consumer trial through effective marketing strategies and community engagement[64]. - The company emphasizes the importance of its trademarks and intellectual property in building brand recognition and competitive advantage[77]. Challenges and Risks - The pet food industry is highly competitive, with major competitors including Nestlé Purina, Mars Pet Care, and others, impacting market share[66]. - The company faces risks related to competition, including pricing pressures and the need for effective marketing to maintain market share[90]. - Input costs for ingredients are subject to volatility and shortages, which could adversely impact production schedules and profitability[105]. - Adverse weather conditions and natural disasters can disrupt operations, affecting ingredient supply and production schedules[107]. - The company may face product recalls or adverse publicity if products are alleged to cause injury or illness, which could lead to significant unexpected expenditures[99]. Employee and Corporate Governance - Freshpet employs 1,083 employees as of December 31, 2023, with a focus on diversity, equity, and inclusion in the workplace[71]. - The company faces challenges in attracting and retaining qualified employees, which could increase operational costs[115]. - Compliance with extensive government regulations may increase production costs and legal expenses[118]. Financial Instruments and Capital Structure - The company issued approximately $402.5 million in convertible notes in March 2023 to meet capital needs[212]. - The company has 48,263,097 shares of common stock outstanding as of December 31, 2023, with authorization to issue up to 200 million shares[146]. - The company has not declared or paid any cash dividends since becoming publicly traded in 2014 and does not anticipate doing so in the foreseeable future[165]. Cybersecurity and IT Risks - The company is subject to cybersecurity risks, with a dedicated information security organization in place to manage these threats[151]. - Cybersecurity risks are increasing, and breaches could lead to significant legal and financial exposure[135]. - Information technology systems are essential for operations, and failures could disrupt business processes and result in transaction errors[134].

Exhibit 99.1 Freshpet, Inc. Reports Fourth Quarter and Full Year 2023 Financial Results Full Year 2023 Net Sales and Adjusted EBITDA Exceed Company Guidance Sixth Consecutive Year of >25% Net Sales Growth Provides Full Year 2024 Outlook SECAUCUS, N.J. – February 26, 2024 – Freshpet, Inc. ("Freshpet" or the "Company") (Nasdaq: FRPT) today reported financial results for its fourth quarter and full year ended December 31, 2023. Fourth Quarter 2023 Net sales increased 29.9% to $215.4 million for the fourth quar ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-36729 FRESHPET, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 20-1884894 (State or other jurisdiction of incorporation or organization) (I.R.S. Emp ...