Freshpet Reveals Net Sales Increase in Latest Financial Update

Destiny A. Lopez  |

Are you a pet lover? Is your pet like a member of the family? Have you attempted to train your pet to sleep in a pet bed and you still wake up with a furry bundle of cuteness cuddled up right next to your face? If you’re like me and your pooch or kitten rules the roost, Freshpet (FRPT), a natural pet food provider, should be on your radar.

Freshpet specializes in fresh and refrigerated meals and treats for cats and dogs. Based in New Jersey, the company’s product line is available in the United States and Canada through a variety of grocery, pet club and specialty stores. Under the Freshpet brand, along with its Dognation and Dog Joy brands, the company’s product line includes:

  • Freshpet® Select, a brand of all-natural pet meals.
  • Vital®, a brand of grain-free and raw recipes.
  • Nature’s Fresh®, which offers meals with a focus on holistic nutrition.

Last month, the company a solid performance in its Q4 and 2015 year end financial reports. Highlights from the reports include:

  • Q4 net sales increasing 23%
  • 2015 net sales totaled $116.2 million, a 34% increase compared to 2014 data.
  • Adjusted EBITDA doubled to $11.1 million

“Our team made significant progress in our first year as a public company. We had great achievements along with constructive learnings in 2015, as our team executed on our strategic initiatives to expand distribution, grow velocity, and introduce a broader assortment of innovative fresh foods for dogs and cats,” said Richard Thompson, CEO of Freshpet. “We generated solid annual top-line growth and doubled our Adjusted EBITDA. At the same time, we made operational investments across our manufacturing and supply chain to better position us to achieve greater leverage across our business model and enhance long-term shareholder value.”

Furthermore, the company also announced a CEO succession plan in preparation for Thompson’s retirement as CEO and director, effective July 1, 2016. “The Board is focused on identifying the right candidate to lead Freshpet through its next phases of growth, while providing opportunities for our people and delivering greater value to our stockholders,” saif Charlie Norris, Chairman of the Freshpet Board of Directors. “We are fortunate to have Walt available to assist in the leadership transition and welcome his perspective and experience in operations, consumer products and the pet food industry.”

Nutrition isn’t just a human concern; a good diet and exercise regime for your pet provides them good health and a great quality of life. And, since 2004, Freshpet continues to deliver on its promise: to improve the lives of dogs and cats everywhere through the power of fresh, natural food.

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Companies

Symbol Name Price Change % Volume
FRPT Freshpet Inc. 42.61 0.00 0.00 0 Trade

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