Loading...
•
Jun 30, 2022
Freshpet Q2 2022 Earnings Report
Freshpet's financial performance reflected strong topline and household penetration growth, but was impacted by inflation and a quality issue.
Key Takeaways
Freshpet reported a 34.4% increase in net sales to $146.0 million for Q2 2022. Despite the strong topline growth, the company experienced a net loss of $20.6 million, and adjusted EBITDA decreased to $3.9 million due to inflation and operational challenges. The company has revised its adjusted EBITDA guidance for the full year to reflect these factors.
Net sales increased by 34.4% to $146.0 million.
Net loss was $20.6 million, compared to a net loss of $7.5 million in the prior year.
Adjusted EBITDA was $3.9 million, down from $10.9 million in the prior year.
The company refines CAPEX forecast to reflect new efficiencies
Freshpet
Freshpet
Forward Guidance
For full year 2022, the Company updated its Adj. EBITDA guidance. The Company now expects the following results:
Positive Outlook
- Net sales of >$575 million, an increase of ~35% from 2021
- Adjusted EBITDA of >$48 million, an increase of ~12% from 2021
- Capital expenditures of approximately $320 million, reflecting a reduction of approximately $80 million versus prior forecast