Freshpet rises on annual net sales forecast raise, strong Q3

Freshpet

04/11/2024 14:57

(Updates)
    ** Shares of pet food maker Freshpet  FRPT.O  up as much as
8.4% at $144.89, set for their best day in nearly six months 
    ** Co expects 2024 net sales to be $975 mln vs previous
forecast of $965 mln, driven by strong demand for its dog and
cat foods
    ** Q3 revenue rose 26.3% to $253.4 mln from a year ago vs
analysts' avg. estimate of $248.2 mln, helped by a 26.1% rise in
volume
    ** FRPT posts adjusted EBITDA of $43.5 mln vs estimates of
$35.2 mln - data compiled by LSEG
    ** Up to Friday's close, stock has risen 54% YTD

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))