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Freshpet, Inc. reports developments tied to its fresh refrigerated pet food business, including financial results, sales outlook updates, brand marketing, product-quality certifications, and leadership changes. The company makes recipes for dogs and cats from fresh meats, vegetables, and fruits at Freshpet Kitchens and keeps foods and treats refrigerated through delivery to retail Freshpet Fridges or direct-to-consumer channels.
Recurring updates focus on net sales growth, gross margin, non-GAAP measures, manufacturing scale, omnichannel distribution, and availability through grocery, mass, digital, pet specialty, and club retailers in the United States, 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.
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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.
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.