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Sep 30, 2021
Freshpet Q3 2021 Earnings Report
Reported an increase in net sales, but experienced a net loss due to increased SG&A expenses.
Key Takeaways
Freshpet, Inc. reported a 27.8% increase in net sales for the third quarter of 2021, reaching $107.6 million. However, the company experienced a net loss of $2.1 million compared to a net income of $3.5 million in the prior year period, primarily due to increased SG&A expenses. Adjusted EBITDA decreased to $14.6 million from $17.0 million in the prior year period. The company estimates full year net sales of ~$445 million.
Net sales increased by 27.8% to $107.6 million.
Net loss was $2.1 million, compared to a net income of $3.5 million in the prior year.
Adjusted EBITDA was $14.6 million, compared to $17.0 million in the prior year.
Company estimates full year net sales of ~$445 million.
Freshpet
Freshpet
Forward Guidance
For full year 2021, the Company updated its guidance and expects net sales of approximately $445 million, representing an increase of approximately 40% from 2020. Adjusted EBITDA is expected to be approximately $50 million, reflecting an increase of approximately 7% from 2020.
Positive Outlook
- Net sales of ~$445 million, an increase of ~40% from 2020
Challenges Ahead
- Adjusted EBITDA of ~$50 million, an increase of ~7% from 2020, from previous guidance of >$61 million