Freshpet Q3 net sales up 40.7% to $151.3M; net loss widens to $18.4M; cuts capex guidance

Freshpet, Inc.

2022-Q3 EPS reported -$1.24 revenue$429,511,000

Net sales $151.3M (+40.7% YoY); net loss $18.4M vs $2.1M loss prior year.
Adjusted EBITDA $3.5M vs $13.5M prior year; Adjusted Gross Margin 34.5% vs 43.5%.
Reiterates FY2022 guidance: net sales >$575M, adj. EBITDA >$15M (methodology change excludes plant start-up/launch expenses).
Reduces 2022 capex to ~$290M (down $30M) and 2023 capex to ~$230M (down $70M).
CEO cites 'strong, on-plan quarter' and executing operational improvement plan for margin expansion.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Freshpet, Inc. reported its third quarter ended September 30, 2022 results: revenue $151.3 million, net income Net loss of $18.4 million. Guidance reaffirmed.

Period: its third quarter ended September 30, 2022
Revenue: $151.3 million
Net income: Net loss of $18.4 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Freshpet, Inc. Reports Third Quarter 2022 Financial Results Continued Strong Topline Growth Freshpet Advances Operational Improvement Plan to Drive Margin Expansion Reduces 2022/2023 Capital Spending Guidance by $100 million Reiterates Full Year Underlying Guidance and Updates Go-Forward Adjusted EBITDA Guidance Methodology SECAUCUS, N.J. – November 1, 2022 – Freshpet, Inc. (“Freshpet” or the “Company”) (Nasdaq: FRPT) today reported financial results for its third quarter ended September 30, 2022 . Third Quarter 2022 Financial Highlights Compared to Prior Year Period ● Net sales of $151.3 million, an increase of 40.7% ● Net loss of $18.4 million, compared with prior year net loss of $2.1 million

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Source: SEC EDGAR

accession 0001437749-22-025362

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