Freshpet Turns To Q3 Profit, Sales Grow 26%; Raises Full-year Sales Outlook

(RTTNews) - Freshpet, Inc. (FRPT) Monday reported net income of $11.89 million or $0.24 per share for the third quarter compared with net loss of $7.17 million or $0.15 per share in the same quarter a year ago. For the full year, the pet food company has raised its sales outlook above the Street expectations.

Net sales increased 26.3% to $253.37 million from $200.62 million for the prior year period.

On average, 10 analysts expected the company to report earnings of$0.11 per share on revenue of $248.21 million for the quarter. Analysts' estimates typically exclude special items.

For fiscal 2024, the company now expects sales to be about $975 million, up from the previous outlook of $965 million. The consensus estimate stands at $969.47 million.