earnings
confidence high
sentiment negative
materiality 0.75
Freshpet Q2 net loss widens to $20.6M; revises FY2022 Adj. EBITDA guidance >$48M
Freshpet, Inc.
2022-Q2 EPS reported
-$0.85
revenue$278,179,000
- Net sales $146.0M (+34.4% YoY) but net loss widened to $20.6M from $7.5M.
- Adjusted EBITDA fell to $3.9M (2.6% margin) from $10.9M (10.0% margin) due to inflation and quality issues.
- FY2022 guidance: net sales >$575M (~35% growth); Adj. EBITDA >$48M (~12% growth); capex ~$320M (reduced $80M).
- Adjusted gross margin declined to 42.4% from 46.1% on ingredient cost inflation and labor cost increases.
- New Freshpet Kitchen in Ennis, TX opening next month, adding capacity over $1B when fully operational.