Freshpet Stock Price, News & Analysis

Freshpet, Inc. (Nasdaq: FRPT) announced the pricing of a $350 million offering of 3.00% convertible senior notes due in 2028, set to settle on March 20, 2023. The notes will accrue interest at 3.00% per annum, with a maturity date of April 1, 2028. The initial conversion rate is 14.3516 shares per $1,000 principal amount, equating to a price of approximately $69.68 per share, representing a 27.5% premium over Freshpet's last reported stock price. Net proceeds are projected at $340.3 million, intended for general corporate purposes. Additionally, Freshpet entered capped call transactions to manage potential dilution from conversions.

JANA Partners LLC has criticized Freshpet (NASDAQ:FRPT) for its recent equity-linked capital raise announced on March 14, 2023. JANA expressed astonishment at the move, especially while Freshpet's shares are trading at less than 50% of their 52-week high. The firm criticized the board for opting for a larger capital raise than needed and for previously assuring investors against issuing equity due to the low stock price. JANA argues that this decision risks further damage to Freshpet’s credibility and suggests that significant board changes are needed, or the company should consider a sale.

Freshpet, Inc. (Nasdaq: FRPT) announced its intent to offer $350 million in convertible senior notes due 2028 in a private offering to qualified institutional buyers. The company may grant an additional $52.5 million in notes. These senior, unsecured notes will yield semi-annual interest and are convertible under specified conditions. Freshpet plans to utilize some proceeds for capped call transactions to mitigate stock dilution and the rest for general corporate purposes. Notably, the offering's terms and conditions remain subject to market conditions and the final pricing.

Freshpet, Inc. (Nasdaq: FRPT) reported robust financial results for Q4 and FY 2022. Q4 net sales reached $165.8 million, marking a 43.1% increase, with a reduced net loss of $2.9 million compared to $9.3 million in the prior year. The company achieved FY 2022 net sales of $595.3 million, up 39.9%, although the net loss widened to $59.5 million from $29.7 million. Adjusted EBITDA for Q4 was $18.8 million and $20.1 million for FY 2022. Looking ahead, Freshpet targets net sales of approximately $750 million in 2023, indicating a 26% growth. The outlook includes adjusted EBITDA of at least $50 million.

Freshpet, Inc. (NASDAQ: FRPT) announced it will report its fourth quarter and fiscal year results for 2022 on February 27, 2023, before market open. A conference call with the executive management team will follow at 8:00 a.m. ET to discuss the results in detail. Investors can participate via phone or listen online through the company's website. Freshpet focuses on providing fresh, real food for pets, emphasizing the quality and sourcing of its ingredients. Their products are available across various retail channels in North America and Europe.

Freshpet, Inc. (NASDAQ: FRPT) announced participation in the 2023 Consumer Analyst Group of New York (CAGNY) Conference in Boca Raton, FL on February 22, 2023, at 9:00 a.m. ET. The event will provide insights into Freshpet's mission to enhance the lives of pets through fresh, real food. Their products, which include blends of fresh meats, vegetables, and fruits, are prepared in small batches and kept refrigerated. Interested parties can access the presentation through the ‘Investors’ section on Freshpet’s website. Freshpet is committed to integrity, transparency, and social responsibility in the pet food market.

Freshpet (NASDAQ: FRPT) announced the appointment of Jay Dahlgren as Executive Vice President of Manufacturing, Technology, and Supply Chain, effective January 1, 2023. This strategic move aims to enhance operational efficiency and support long-term growth.

Freshpet is on track with its operational improvement plan, achieving fill rates above 90% and reducing logistics costs. The new facility in Ennis, Texas, now produces over 90% of its product line, positioning Freshpet for profitability in 2023 and beyond.

Freshpet announced that its executive management team will participate in the 25th Annual ICR Conference in Orlando, FL. The presentation is scheduled for January 9, 2023, at 11:00 a.m. ET. Interested parties can access the conference via the 'Investors' section of Freshpet's website.

Freshpet focuses on improving the lives of pets by providing fresh, real food made from locally sourced ingredients. The company emphasizes integrity and transparency in its operations. Freshpet's products are available in various retailers across the U.S., Canada, and Europe.

Freshpet, Inc. (NASDAQ:FRPT) announced participation in the Stephens Investment Conference in Nashville, TN on November 16, 2022, at 9:00 a.m. ET. The event will be accessible via the 'Investors' section of their website. Freshpet focuses on providing fresh, real food for pets, sourcing local ingredients and preparing them in small batches to maintain quality. Their products are available across the U.S., Canada, and Europe through various retail channels. For more details, visit www.freshpet.com.