Freshpet Inc Q2 Earnings Summary

(RTTNews) - Below are the earnings highlights for Freshpet Inc (FRPT):

Earnings: $16.356 million in Q2 vs. -$1.694 million in the same period last year. EPS: $0.33 in Q2 vs. -$0.03 in the same period last year. Analysts projected $0.16 per share Revenue: $264.689 million in Q2 vs. $235.253 million in the same period last year.

This rise in sales was primarily driven by volume gains of 10.8% and favorable price/mix of 1.7%.

The company's second-quarter earnings were supported by higher sales, improved gross profit as a percentage of net sales, and decreased SG&A expenses.

Looking ahead, for the full year, the company has revised down its sales growth outlook to a range of 13% to 16% from the earlier guidance of 15% to 18%.

Freshpet still projects annual adjusted EBITDA of $190 million to $210 million.

Annual capital expenditures outlook revised down to ~$175 million from ~$225 million previously.

FRPT was up by 3.26% at $68 in the pre-market trade on the Nasdaq.