FRPT Earnings: Freshpet Jumps 13% on Strong Q4 Print
Market News

FRPT Earnings: Freshpet Jumps 13% on Strong Q4 Print

Story Highlights

Freshpet shares are on the rise today after the pet food products provider delivered impressive top-line and bottom-line numbers for the fourth quarter.

Freshpet (NASDAQ:FRPT) shares are up nearly 13% in the early session today after the pet foods and treats provider delivered better-than-anticipated numbers for the fourth quarter. With a year-over-year jump of 29.9%, revenue of $215.4 million exceeded estimates by $10.5 million. In sync, EPS of $0.31 surpassed expectations by a wide margin of $0.23.

For the full year, Freshpet’s net sales increased by 28.8% to $766.9 million and adjusted EBITDA more than tripled to $66.6 million. The company is beginning to experience gains from scale. The increase in its Q4 top line was driven by volume gains to the tune of 25%.

At the same time, better leverage on plant expenses and lower quality-associated costs helped Freshpet expand its gross margin to 34.6% from 27.6% in the year-ago period. The company had a total cash pile of $296.9 million at the end of December 2023.

For Fiscal Year 2024, Freshpet expects net sales to rise by at least 24% to a minimum of $950 million. Adjusted EBITDA for the year is seen landing in the range of $100 million to $110 million.

Is Freshpet a Good Stock to Buy?

Today’s price gains come on top of a nearly 34% rally in Freshpet’s share price over the past three months. Overall, the Street has a Strong Buy consensus rating on Freshpet alongside an average price target of $98.90. However, analysts’ views on the stock could see a revision following today’s earnings report.

Read full Disclosure


Price Change
S&P 500
Dow Jones
Nasdaq 100

Popular Articles