Freshpet Inc (FRPT) released earnings for its third quarter that Increased, from the same period last year and beat the Street estimates.
The company's earnings came in at $101.663 million, or $1.86 per share. This compares with $11.895 million, or $0.24 per share, last year.
Analysts on average had expected the company to earn $0.40 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 14.0% to $288.848 million from $253.367 million last year.
Freshpet Inc earnings at a glance (GAAP) :
-Earnings: $101.663 Mln. vs. $11.895 Mln. last year.-EPS: $1.86 vs. $0.24 last year.-Revenue: $288.848 Mln vs. $253.367 Mln last year.
This surge in the third quarter net income reflects the deferred income tax benefit resulting from the release of a $77.9 million valuation allowance in the current period as a result of sustained profitability and the expected future profitability, contribution from higher sales, and decreased SG&A expenses.
For the third quarter, the firm posted net sales of $288.8 million, higher than $253.4 million in the prior year period. The increase in net sales was primarily driven by volume gains of 12.9%, and a favorable price/mix of 1.1%.
Looking ahead, the company has revised its annual outlook. Excluding items, Freshpet now expects EBITDA of $190 million to $195 million, compared with the earlier guidance of $190 million to $210 million.
The company now anticipates annual net sales growth of around 13%, compared with the prior outlook of 13% to 16%.
FRPT was up by 6.54% at $52.43 in the pre-market trade on the Nasdaq.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.