Freshpet (FRPT) Misses Q1 EPS by 4c; Maintains FY View

Freshpet (NASDAQ: FRPT) reported Q1 EPS of ($0.10), $0.04 worse than the analyst estimate of ($0.06). Revenue for the quarter came in at $70.1 million versus the consensus estimate of $71.72 million.

“Amidst the challenges created by the COVID-19 health crisis and our capacity limitations, Freshpet’s Feed the Growth plan generated another quarter of strong, consistent growth – delivering more than 25% net sales growth for the eighth time in the last nine quarters and doubling the Adjusted EBITDA from the year ago,” commented Billy Cyr, Freshpet’s Chief Executive Officer. “At times like this, pets provide a source of comfort, companionship and happiness to pet parents, and Freshpet continues to be an important part of more and more of those loving and nurturing relationships. Our team has worked incredibly hard throughout this crisis to enable those relationships by helping to make pets’ and pet parents’ lives better, while also taking care of our team members, our families and the communities we serve.”

GUIDANCE:

Freshpet reiterated FY2020 revenue of at least $310 million, versus the consensus of $312.3 million. To exceed Adjusted EBITDA of $44 million, an increase greater than 50% from 2019.

For earnings history and earnings-related data on Freshpet (FRPT) click here.

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