BUZZ-Freshpet slips after downbeat annual sales forecast, Q4 results

Updates

Shares of pet food maker Freshpet FRPT.O fall as much as 13% to a more than six-month low of $113.52 in early trading

Company forecasts annual net sales in the range of $1.18 billion to $1.21 billion, largely below estimates of $1.21 billion - LSEG data

Also reports Q4 net sales of $262.7 million, missing estimates of $264.1 million

*Q4 EPS of 36 cents misses estimates of 39 cents

*Brokerage TD Cowen says investors were prepared, given near-term softness in dog food category, but evaluating risk of decelerating growth will be tricky

However, FRPT's annual adjusted EBITDA forecast of above $210 million was higher than estimates of $204.4 million

FRPT rose 70.7% in 2024