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Sep 30, 2020
Freshpet Q3 2020 Earnings Report
Freshpet demonstrated strong growth in net sales and adjusted EBITDA, driven by velocity, innovation, and distribution gains, while also completing the construction of Kitchens 2.0 to expand capacity.
Key Takeaways
Freshpet reported a 29.0% increase in net sales, reaching $84.2 million, and net income of $3.5 million for the third quarter of 2020. Adjusted EBITDA increased by 42.2% to $17.0 million. The company also announced the completion of Freshpet Kitchens 2.0, which will provide additional capacity for future growth.
Net sales increased by 29.0% to $84.2 million compared to the prior year period.
Net income increased to $3.5 million, compared to $3.1 million in the prior year.
Adjusted EBITDA increased by 42.2% to $17.0 million.
Freshpet Kitchens 2.0 construction was completed, expanding capacity to meet strong demand.
Freshpet
Freshpet
Forward Guidance
For full year 2020, the Company reiterated its guidance. The Company continues to expect the following results:
Positive Outlook
- To exceed net sales of $320.0 million, an increase greater than 30% from 2019
- To exceed Adjusted EBITDA of $46.0 million, an increase greater than 57% from 2019