Freshpet Q1 net sales +33.6% to $223.8M; net income $18.6M vs loss; raises Adj. EBITDA guidance

Freshpet, Inc.

2024-Q1 EPS reported $0.37 revenue$223,849,000

Net sales $223.8M (+33.6% YoY) driven by 30.6% volume growth; gross margin 39.4% vs 30.3%.
Net income $18.6M vs prior-year loss of $24.8M; Adj. EBITDA $30.6M vs $3.0M.
2024 Adj. EBITDA guidance raised to at least $120M from $100-110M; sales outlook unchanged at $950M+.
Adj. Gross Margin 45.3% vs 38.5% on lower input costs, quality and logistics improvements.
SG&A as % of sales improved 750 bps to 35.6%; cash from operations $5.4M, up $19.1M YoY.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Freshpet, Inc. reported the quarter ended March 31, 2024 results: revenue $223.8 million, net income $18.6 million. Guidance raised.

Period: the quarter ended March 31, 2024
Revenue: $223.8 million
Net income: $18.6 million
Guidance: raised
Result: reported results

Exact text from the filing

(Nasdaq: FRPT) today reported financial results for its first quarter ended March 31, 2024 . First Quarter 2024 Financial Highlights Compared to Prior Year Period ● Net sales of $223.8 million, an increase of 33.6%. ● Gross margin of 39.4%, compared to the prior year period of 30.3%. ● Adjusted Gross Margin of 45.3%, compared to the prior year period of 38.5%. ● Net

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Source: SEC EDGAR

accession 0001437749-24-014706

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