Freshpet soars on surprise Q1 profit, sales beat

Freshpet

06/05/2024 13:29

** Shares of pet food-maker Freshpet  FRPT.O  rise 15.2% to
$126.27 premarket
    ** Co posts surprise qtrly EPS of $0.37 vs. est. of loss/shr
of $0.24 - LSEG data 
    ** Q1 revenue of $223.80 mln beat Wall Street view of
$216.40 mln 
    ** Co sees FY24 adj. EBITDA of at least $120 mln, compared
with prior forecast of $100 mln to $110 mln
    ** FRPT says increase in Q1 net sales is primarily driven by
volume gains of 30.6%
    ** 13 of 17 brokerages rate stock "buy" or higher, four
"hold"; their median PT is $125
    ** Up to Friday's close, stock up 26.3% YTD

 (Reporting by Khushi Singh in Bengaluru)
 ((Khushi.Singh@thomsonreuters.com;))