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Mar 31, 2023
Freshpet Q1 2023 Earnings Report
Reported strong topline growth and Adjusted EBITDA improvement.
Key Takeaways
Freshpet reported a strong start to 2023 with a focus on improving profitability while driving growth, as demonstrated by the first quarter results.
Net sales increased by 26.7% to $167.5 million compared to the prior year period.
Net loss was $24.8 million, compared to a net loss of $17.5 million in the prior year.
Adjusted EBITDA improved to $3.0 million, compared to $(0.3) million in the prior year.
The company reaffirms its net sales and Adjusted EBITDA guidance for the full year.
Freshpet
Freshpet
Forward Guidance
The Company reiterates its full year underlying guidance on Net Sales and Adjusted EBITDA.
Positive Outlook
- Net sales of ~$750 million, an increase of ~26% from 2022.
- Adjusted EBITDA of at least $50 million.
- Capital expenditures for 2023 of ~$240 million.