Freshpet: 3Q Earnings Snapshot
SECAUCUS, N.J. (AP) _ Freshpet Inc. (FRPT) on Monday reported third-quarter net income of $3.1 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Secaucus, New Jersey-based company said it had net income of 8 cents.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The seller of refrigerated fresh pet food posted revenue of $65.3 million in the period, surpassing Street forecasts. Seven analysts surveyed by Zacks expected $64.3 million.
Freshpet expects full-year revenue of $244 million.
Freshpet shares have increased 52% since the beginning of the year. In the final minutes of trading on Monday, shares hit $48.87, an increase of 36% in the last 12 months.