NASDAQ$FRPT
Freshpet Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Freshpet's Q1 2024 results showcased strong volume-based growth and profitability improvements driven by lower costs.
Freshpet reported a strong first quarter with a 33.6% increase in net sales, driven by volume gains. The company's profitability improved significantly, with net income reaching $18.6 million compared to a net loss in the prior year. Adjusted EBITDA also saw substantial growth due to increased gross profit and operational efficiencies.
- Net sales increased by 33.6% to $223.8 million, driven by a 30.6% volume gain.
- Net income was $18.6 million, a significant improvement from the prior year's net loss of $24.8 million.
- Adjusted EBITDA increased to $30.6 million, compared to $3.0 million in the prior year period.
- Gross profit margin improved due to better leverage on plant expenses, reduced quality costs, and lower input costs.
Headline financials
Revenue & EPS history
Freshpet · Revenue · Quarterly
$224M
Forward guidance
For the full year 2024, Freshpet expects net sales of at least $950 million and adjusted EBITDA of at least $120 million, with capital expenditures around $210 million.
Tailwinds
- Net sales of at least $950 million, an increase of at least 24% from 2023.
- Adjusted EBITDA of at least $120 million, compared to a previous range of $100 to $110 million.
- Capital expenditures of ~$210 million, unchanged from the previous guidance.
- Strong first quarter results provide solid evidence that Freshpet can deliver its long-term financial goals.
- The company's focus is now on delivering consistently strong performance.
Headwinds
- The company does not provide guidance for net income.
- Unavailability of reliable estimates for certain components of net income.
- The timing and amount of costs of goods sold and selling, general and administrative expenses are not within the company's control.
- These items may vary greatly between periods and could significantly impact future results.
- Forward-looking statements involve certain risks and uncertainties.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+1.4%
Avg return
Earnings day
+2.8%
Avg return
5 days after
+3.6%
Avg return
30 days after
67%
37 / 55 earnings
Positive
+22.0%
Q2 2016
Best reaction
-28.7%
Q3 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -8.7% | -17.6% | -17.4% | |
| Q4 2025 | +5.5% | +13.3% | -19.3% | |
| Q3 2025 | +11.3% | +12.3% | +26.4% | |
| Q1 2025 | +3.7% | +5.4% | +7.0% | |
| Q4 2024 | -18.5% | -18.0% | -33.6% | |
| Q3 2024 | +13.4% | +17.0% | +17.0% | |
| Q2 2024 | +4.1% | +4.9% | +13.8% | |
| Q1 2024 | +10.1% | +9.6% | +20.0% | |
| Q4 2023 | +17.7% | +20.4% | +25.8% | |
| Q3 2023 | +16.5% | +15.1% | +24.4% | |
| Q2 2023 | +8.5% | +7.9% | +1.3% | |
| Q1 2023 | -1.5% | -0.6% | -5.8% | |
| Q4 2022 | +1.8% | +2.7% | +6.1% | |
| Q3 2022 | +7.1% | +14.1% | +10.2% | |
| Q2 2022 | -12.2% | -12.4% | -28.4% | |
| Q1 2022 | -11.2% | -30.7% | -27.7% | |
| Q4 2021 | +17.4% | +5.1% | +12.2% | |
| Q3 2021 | -16.8% | -17.6% | -28.3% | |
| Q2 2021 | -3.9% | -6.8% | -11.2% | |
| Q1 2021 | -5.1% | -4.5% | -6.1% | |
| Q4 2020 | -9.8% | -3.3% | -10.4% | |
| Q3 2020 | +9.5% | +18.1% | +17.0% | |
| Q2 2020 | +9.1% | +6.4% | +18.8% | |
| Q1 2020 | +5.8% | +1.1% | +5.8% | |
| Q4 2019 | -9.0% | -9.8% | -13.9% | |
| Q3 2019 | -0.5% | +7.0% | +6.0% | |
| Q2 2019 | -17.8% | -11.1% | +8.9% | |
| Q1 2019 | -0.4% | +2.5% | +2.1% | |
| Q4 2018 | +4.1% | +6.2% | +12.1% | |
| Q3 2018 | -4.7% | +0.4% | -11.7% | |
| Q2 2018 | +6.8% | +14.5% | +28.2% | |
| Q1 2018 | -3.5% | +5.3% | +19.4% | |
| Q4 2017 | -8.6% | -10.6% | -20.0% | |
| Q3 2017 | +7.6% | +10.5% | +20.3% | |
| Q2 2017 | +1.8% | -5.8% | -0.9% | |
| Q1 2017 | +12.2% | +19.0% | +33.8% | |
| Q4 2016 | +15.8% | +18.4% | +16.3% | |
| Q3 2016 | +2.9% | -4.7% | +5.3% | |
| Q2 2016 | +22.0% | +26.1% | +17.7% | |
| Q1 2016 | +4.7% | — | — | |
| Q4 2015 | +9.9% | — | — | |
| Q3 2015 | -28.7% | — | — | |
| Q2 2015 | -13.5% | — | — | |
| Q1 2014 | +0.7% | — | — | |
| Q4 2012 | +1.2% | — | — | |
| Q4 2014 | +1.2% | — | — | |
| Q3 2012 | +1.2% | — | — | |
| Q2 2014 | +1.2% | — | — | |
| Q2 2013 | +1.2% | — | — | |
| Q2 2012 | +1.2% | — | — | |
| Q1 2013 | +1.2% | — | — | |
| Q1 2012 | +1.2% | — | — | |
| Q3 2013 | +3.1% | — | — | |
| Q3 2014 | +3.1% | — | — | |
| Q4 2013 | +3.1% | — | — |
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