EarningsQ2 2026 Earnings Report
MX:FRPT Q2 2026 EPS Results
Actual EPS$7.68
Consensus EPS$4.40
Beat/MissBeat by +$3.29
One Year Ago EPS$5.99
MX:FRPT Q2 2026 Revenue Results
Actual Revenue$5.55B
Expected Revenue$5.31B
Beat/MissBeat by +$240.42M
YoY Revenue Growth+15.45%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeBefore Open
Conference CallWednesday, August 5, 2026
MX:FRPT Upcoming Earnings
Freshpet's next earnings date is estimated for November 9, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:FRPT Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a broadly positive view: strong Q2 sales, margin expansion, improved cash flow and e-commerce/retail distribution momentum led management to raise 2026 sales and adjusted EBITDA guidance and to increase the 2027 gross margin floor. That said, the company acknowledged clear near-term headwinds—higher logistics costs, start-up quality expenses from new manufacturing technology, a cautious consumer backdrop, and intensifying competition—that inject uncertainty into short-term cadence. Overall, results, balance sheet strength and strategic manufacturing/omnichannel initiatives outweigh the near-term operational and macro challenges.Company Guidance
Strong Top-Line Growth
Q2 net sales of $305.6M, up 15.5% year-over-year (volume +15.7%, price/mix -0.2%); Nielsen-measured U.S. pet retail + Costco growth 12.9%; company raised 2026 net sales growth guidance to 10%–12% (from 8%–11%).
Margin Expansion
Adjusted gross margin improved to 48.6% in Q2 from 46.9% a year ago, a +170 basis point increase; company now expects ~100–150 bps of adjusted gross margin improvement for 2026 at the midpoint and raised 2027 gross margin floor to at least 49%.
Profitability and EBITDA Improvement
Q2 adjusted EBITDA $52.2M versus $44.4M a year ago, an increase of ~18%; adjusted EBITDA margin 17.1% vs 16.8% prior year; 2026 adjusted EBITDA guidance raised to $210M–$220M (up ~7%–12% YoY).
Cash Flow, CapEx and Capital Allocation
Operating cash flow for Q2 was $44.4M, up 31% year-over-year; capital spending $29.7M producing free cash flow of $14.7M (vs $0.5M prior year); $150M share repurchase authorization announced with $86.5M executed through end of July and cash on hand $350.8M.
Omnichannel and E‑commerce Momentum
Digital orders grew 41% in Q2 and comprised 16.7% of total sales (up from 16.1% in Q1); ~78% of e-commerce volume fulfilled via fridge network; DTC and pure-play e-commerce posted particularly strong growth.
Retail Distribution and Fridge Network Expansion
Products available in over 30,000 stores; ~25% of U.S. and Canadian stores have multiple fridges; total distribution points up 13% in Q2; expect at least 700 rural lifestyle retail stores by year-end and continued selective club expansion (third SKU in some club sets).
Manufacturing Advances and Technology Upside
Three lines using new bag product technology (2 in Bethlehem, 1 in Ennis) showing improved quality, throughput and yields; management expects >100 bps of gross margin improvement at full optimization from installed lines, ~25 bps benefit in 2026 with more contribution in 2027 and substantial product innovation potential.
Consumer Franchise Strength
Over last 52 weeks total net sales growth proxy (household penetration + buying rate) = 13% (buying rate +7%, household penetration +5%); MVP households (spend ~5x average) account for 71% of sales; Freshpet is fastest-growing dog food brand in dollars and has only 4.3% market share (room to grow).
MX:FRPT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed