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 ...

Freshpet, Inc. (NASDAQ:FRPT) Q2 2023 Earnings Conference Call August 7, 2023 8:00 AM ET Company Participants Jeff Sonnek - Investor Relations, ICR Billy Cyr - Chief Executive Officer Todd Cunfer - Chief Financial Officer Scott Morris - Chief Operating Officer Conference Call Participants Mark Astrachan - Stifel Peter Benedict - Baird Michael Lavery - Piper Sandler Bryan Spillane - Bank of America Bill Chappell - Truist Securities Cody Ross - UBS Rupesh Parikh - Oppenheimer Jim Salera - Stephens Jon Andersen ...

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 June 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. Employer ...

PERFORMANCE AND STRONG GROWTH $132.2 2022 2023 +27% +41% FRESHPET Q1 2023 ADJ. EBITDA ($ millions) 7 Q1 2023 EARNINGS PRESENTATION PARTIALLY OFFSET BY TRADE INVENTORY RE-FILL IN THE YA MegaChannel (xAOC+Pet Superstore) Certain statements in this presentation by Freshpet, Inc. (the "Company") constitute "forward-looking" statements, which include any statements related to the the Freshpet Kitchens Expansion, our long-term capacity planning, our net sales and Adjusted EBITDA guidance and the Company's general ...

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 March 31, 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. Employe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) Commission File Number 001-36729 FRESHPET, INC. (Exact name of registrant as specified in its charter) Delaware 20-1884894 (State of Incorporation) (I.R.S. Employer Identification No.) 400 Plaza Drive, 1st Floor Secaucus, New Jersey 07094 (Address of Principal Executive Offices) (Zip Code) (201) 520-4000 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: ...