The earnings call depicted a strong performance with consistent growth, improved operational efficiency, and successful capacity expansions leading to an optimistic financial outlook. However, challenges in the European supply chain and some timing issues in quality costs and inventory benefits were noted. The positive aspects significantly outweigh the challenges, presenting a promising future trajectory.

Company Guidance

During Freshpet's Third Quarter 2024 Earnings Call, the company provided updated guidance reflecting notable achievements and expectations. Freshpet increased its net sales guidance to approximately $975 million, representing around 27% growth year-over-year, up from the previous projection of at least $965 million. This adjustment is attributed to significant improvements in operational efficiency and the successful early start-up of a new roll line. The company also raised its adjusted EBITDA guidance from at least $140 million to at least $155 million, citing a robust adjusted gross margin expansion of 630 basis points year-over-year to 46.5%. Freshpet highlighted its 25th consecutive quarter of 25% year-over-year growth, driven primarily by a 26% increase in net sales due to volume growth. Additionally, the company reported more than $100 million in operating cash flow so far this year and a customer order fill rate of 99% for the quarter, underscoring its disciplined growth strategy and operational excellence.

Consistent Growth and Strong Financial Performance

25th consecutive quarter of 25% year-on-year growth, 26% net sales growth in Q3, significant expansion in adjusted gross margin and adjusted EBITDA margin.

Improved Operational Efficiency

Achieved a customer order fill rate of 99% in Q3, logistics cost as a percent of net sales at the lowest ever, and a 790 basis point improvement in costs contributing to a 630 basis point gross margin improvement.

Successful Capacity Expansion

Startup of the fourth line in Ennis, commissioning of the fifth line in Q4, and plans for a new bag line in Kitchen South by late Q1 next year.

Increased Distribution and Market Presence

22% increase in total distribution points, over 1,000 new stores added year-to-date, and strong customer acquisition cost maintaining long-term targets.

Positive Cash Flow and Financial Outlook

Generated more than $100 million in operating cash flow so far in 2024, raised net sales guidance to approximately $975 million, and adjusted EBITDA to at least $155 million.

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Freshpet (FRPT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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FRPT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 03, 2025	2024 (Q4)	0.40 / -	0.31	―	―	―
Nov 04, 2024	2024 (Q3)	0.15 / 0.24	-0.15	260.00% (+0.39)
Aug 05, 2024	2024 (Q2)	-0.04 / -0.03	-0.35	91.43% (+0.32)
May 06, 2024	2024 (Q1)	-0.23 / 0.37	-0.52	171.15% (+0.89)
Feb 26, 2024	2023 (Q4)	0.07 / 0.31	-0.06	616.67% (+0.37)
Nov 06, 2023	2023 (Q3)	-0.16 / -0.15	-0.39	61.54% (+0.24)
Aug 07, 2023	2023 (Q2)	-0.41 / -0.35	-0.45	22.22% (+0.10)
May 08, 2023	2023 (Q1)	-0.40 / -0.52	-0.4	-30.00% (-0.12)
Feb 27, 2023	2022 (Q4)	-0.07 / -0.06	-0.21	71.43% (+0.15)
Nov 01, 2022	2022 (Q3)	-0.20 / -0.39	-0.05	-680.00% (-0.34)

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

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FRPT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 04, 2024	$133.69	$150.57	+12.63%
Aug 05, 2024	$122.10	$121.41	-0.57%
May 06, 2024	$109.58	$121.03	+10.45%
Feb 26, 2024	$92.01	$110.12	+19.68%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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