Freshpet Stock Price, News & Analysis

Freshpet (Nasdaq: FRPT) announced organizational changes to enhance production, quality, and growth capabilities. CFO Heather Pomerantz will step down, with Dick Kassar serving as Interim CFO. Manufacturing expert Steve Weise will remain as a consultant, while Jay Dahlgren will assist in mitigating supply chain risks. The company reiterated its full-year guidance, targeting net sales of over $575 million (up 35%) and Adjusted EBITDA exceeding $48 million (up 12%). Capital expenditures are projected at $320 million, aimed at expanding operational capabilities and supporting growth.

Freshpet reported strong second quarter 2022 results, with net sales rising 34.4% to $146.0 million, primarily driven by pricing and distribution gains. However, the company faced a net loss of $20.6 million, worsening from a $7.5 million loss in the previous year. Adjusted EBITDA decreased to $3.9 million, reflecting inflated costs and operational challenges. The capital expenditure forecast was refined to $320 million, marking an $80 million reduction. Freshpet anticipates 2022 net sales exceeding $575 million and adjusted EBITDA surpassing $48 million.

Freshpet, Inc. (NASDAQ: FRPT) will report its second-quarter results on August 8, 2022, after market close. A conference call with the executive management team is scheduled for the same day at 4:30 p.m. ET to discuss these results. North American listeners can dial (877) 407-0792 for the live call. The call will also be available via live webcast on the Company’s website and archived for later access. Freshpet focuses on providing fresh, real food for dogs and cats, utilizing local ingredients, and maintaining a commitment to quality and transparency in its operations.

Freshpet, Inc. (NASDAQ:FRPT) announced its participation in William Blair's 42nd Annual Growth Stock Conference on June 9, 2022, at 9:00 a.m. ET, in Chicago, IL. The event will be accessible online through the Company's website. Freshpet is dedicated to enhancing pet nutrition with fresh, real food made from local ingredients. Their products are sold in various retailers across the U.S., Canada, and Europe, ensuring transparency and quality in their food preparation process.

Freshpet, Inc. (NASDAQ:FRPT) announced its participation in Cowen's 6th Annual Future of the Consumer Conference in New York, NY, scheduled for May 25, 2022, at 12:45 p.m. ET. The presentation will be accessible via the Company's website in the 'Investors' section. Freshpet is dedicated to enhancing the lives of pets by providing fresh, natural food made from locally sourced ingredients, cooked in small batches. Their products are refrigerated from production to market, ensuring quality and freshness. For more information, visit www.freshpet.com.

Freshpet, Inc. (NASDAQ: FRPT) announced a public offering of 4,320,988 shares at $81.00 each, targeting proceeds for operational enhancements. The offering, managed by BofA Securities, Jefferies, and Truist Securities, includes a 30-day option for underwriters to buy an additional 648,148 shares. This transaction is set to close on May 6, 2022.

Freshpet's mission focuses on providing fresh, real food for pets, and products are available across major retail channels in North America and Europe.

Freshpet Announces New Innovation Kitchen

Freshpet, Inc. (Nasdaq: FRPT) is set to build a 99,000 square foot Innovation Kitchen in Hanover Township, aiming for completion in the second half of 2023. This new facility will enhance manufacturing capabilities and focus on innovative product development, reinforcing Freshpet's commitment to high-quality pet food. The project is in collaboration with J.G. Petrucci Company, ensuring a modern workspace that will contribute significantly to Freshpet's growth and industry leadership.

Freshpet, Inc. (NASDAQ: FRPT) announced a proposed follow-on offering of $350 million of its common stock. The company plans to provide underwriters with a 30-day option to acquire an additional $52.5 million in shares. This offering is subject to market conditions and aims to raise funds for strategic initiatives. BofA Securities, Jefferies, and Truist Securities are the book-running managers. The effective shelf registration statement was previously filed with the SEC, and details will be provided via a prospectus supplement expected on May 3, 2022.

Freshpet, Inc. (Nasdaq: FRPT) announced its Q1 2022 financial results, reporting a 41.5% year-over-year increase in net sales to $132.2 million. However, the company faced a net loss of $17.5 million, up from a loss of $10.9 million in the prior year. Adjusted EBITDA declined to $5.1 million (3.9% of net sales) compared to $7.8 million (8.3% of net sales) in Q1 2021. Freshpet unveiled an enhanced capacity expansion plan aimed at increasing sales capacity to $2.9 billion, while maintaining a full-year guidance of net sales exceeding $575 million, reflecting a 35% increase from 2021.