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 manufacturer of fresh, refrigerated foods and treats for dogs and cats, and its news flow reflects both its consumer focus and public company status. The company regularly issues press releases on quarterly financial results, providing details on net sales growth, gross margin, net income, Adjusted Gross Margin and Adjusted EBITDA, along with commentary from its leadership team. These updates often discuss volume gains, price and mix, input costs, plant expense leverage and trends in selling, general and administrative expenses.
Investors following Freshpet news will also see guidance updates and outlook statements, where the company revises expectations for net sales growth, Adjusted EBITDA and capital expenditures. Management has discussed topics such as achieving positive free cash flow, adjusting capital spending plans and expectations for growth relative to the dog food category. These communications include forward-looking statements and references to risk factors described in the company’s SEC filings.
Freshpet’s news includes executive and governance developments, such as the appointment of an interim Chief Financial Officer, CFO transitions and retention awards for key executives approved by the board’s compensation committee. The company also announces participation in investor conferences hosted by financial institutions, with details on fireside chats, webcasts and replay availability through its investors section.
For those interested in the pet food industry and in Freshpet’s role within it, this news page provides a centralized view of earnings releases, conference participation, leadership changes and strategic commentary. Readers can use it to monitor how the company describes its performance, operational priorities and long-term goals over time.
Freshpet announced that Robert C. King will step down from the Board of Directors at the Annual Stockholders Meeting in September, taking on the role of Chairman at WernerCo. King, who has been part of Freshpet's board since November 2014, will leave with one year remaining in his three-year term. CEO Billy Cyr expressed gratitude for King's contributions, highlighting his role in Freshpet’s IPO and CEO search committee.
Freshpet focuses on providing fresh, real food for pets, sourcing ingredients locally and prioritizing transparency in their manufacturing processes.
Freshpet, Inc. announced a settlement in the shareholder derivative litigation Meldon v. Freshpet, Inc., pending in the U.S. District Court for New Jersey. The settlement, which requires court approval, involves no admission of liability from the defendants and includes ongoing corporate governance measures. The court has preliminarily approved the settlement, and a hearing is scheduled for July 21, 2020. Freshpet will pay $210,000 in legal fees and $1,000 to the plaintiffs, subject to court approval. Shareholders can file objections to the settlement before the hearing date.
Freshpet, Inc. (NASDAQ: FRPT) will participate in a virtual fireside chat at the Goldman Sachs Global Staples Forum on May 18, 2020, at 1:00 p.m. ET. The event can be accessed live on the Company's website and will be archived for later viewing. Freshpet is committed to enhancing pet health through fresh, real food made from local ingredients. Their products are refrigerated throughout production and distribution to maintain quality and freshness, available in various retail formats across the U.S., Canada, and Europe.
Freshpet reported a 27.9% increase in net sales, totaling $70.1 million for Q1 2020, compared to $54.8 million in Q1 2019. The company faced a net loss of $3.6 million, slightly widening from a loss of $3.4 million the previous year. Adjusted EBITDA rose significantly by 106.1% to $5.7 million. Freshpet's strong performance is attributed to sales growth amid COVID-19 challenges. The company reaffirmed its full-year sales guidance, projecting at least $310 million, a growth of over 26%, and revised Adjusted EBITDA expectations to exceed $44 million.