(Adds Outlook, stock movement)
Following better-than-expected second-quarter results, Freshpet, Inc. (FRPT) raised its full-year sales outlook, above analysts' forecast.
For the year, the company now projects sales of at least $965 million, higher than the earlier guidance of at least $950 million.
Analysts, on average, expect the firm to report revenue of $960.58 million.
Excluding items, EBITDA is now expected to be at least $140 million, compared with at least $120 million guided previously.
Freshpet, meanwhile, sees capital expenditures of around $200 million, lesser than around $210 million expected earlier.
FRPT was trading up by 3.17 percent at $125.97 in the pre-market trade on the Nasdaq.
Q2 Results:
Freshpet reported Loss for second quarter that decreased from the same period last year and beat the Street estimates.
The company's earnings totaled -$1.694 million, or -$0.03 per share. This compares with -$16.952 million, or -$0.35 per share, in last year's second quarter.
Analysts on average had expected the company to earn -$0.05 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 28.3% to $235.253 million from $183.331 million last year.
Freshpet Inc earnings at a glance (GAAP) :
-Earnings (Q2): -$1.694 Mln. vs. -$16.952 Mln. last year.
-EPS (Q2): -$0.03 vs. -$0.35 last year.
-Revenue (Q2): $235.253 Mln vs. $183.331 Mln last year.
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