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, based in Secaucus, N.J., is set to release its first-quarter financial results for 2023 on May 8, 2023, prior to market opening. The conference call will take place at 8:00 a.m. ET the same day, featuring key insights from the executive management team.
Participants can join by dialing (877) 407-0792 for North American listeners or (201) 689-8263 for international attendees. The call will also be streamed live on Freshpet's website, with a playback option available following the call until May 22, 2023, using the passcode 13737644.
Freshpet is committed to enhancing the lives of pets through fresh, natural food made from high-quality ingredients, sourcing locally and cooking in small batches.
Freshpet and Petco have partnered to introduce an industry-first customized fresh pet food subscription, Freshpet Custom Meals, available exclusively on Petco's website. This service allows pet parents to receive tailored meal plans for their dogs, crafted by veterinary nutritionists, delivered directly to their homes. The fresh pet food sector is set to grow significantly, with projections suggesting it could reach $6 billion in four years. The offering, which has launched in 15 states including California and Texas, starts at $3 per day and is designed to meet the rising demand for convenient, healthy pet nutrition.
Freshpet, Inc. (NASDAQ: FRPT) has successfully closed a $391.4 million offering of 3.00% convertible senior notes due 2028, enhancing its balance sheet for its Fresh Future growth plan. The notes, providing a reduced interest cost with no covenants and a five-year maturity, attracted considerable investor interest, leading to a full exercise of the initial purchasers' option. The transaction includes a capped call hedge, increasing the effective conversion premium to 120%, thus avoiding dilution for current shareholders until the stock exceeds $120.23. Proceeds will support general corporate purposes and strengthen Freshpet's capital structure.
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.