Freshpet's (FRPT, Financial) Q3 2024 results just shook the pet food market, sending shares up 11.5% after a killer quarter that leaves no question about their momentum. Net sales rocketed 26.3% to $253.4 million, powered by a surge in volume and streamlined efficiency. And here's the kicker: they turned a $7.2 million loss last year into a $11.9 million profit this quarter. Gross margin climbed to 40.4%, thanks to lowered costs and smarter spending, with Adjusted EBITDA nearly doubling to $43.5 million—Freshpet is showing serious staying power.
CEO Billy Cyr didn't hold back, calling this quarter a game-changer as Freshpet racks up 25 consecutive quarters of double-digit growth, proving they're locked in on their 2027 goals. Freshpet's new guidance reflects this confidence: they're aiming for around $975 million in net sales, bumping their adjusted EBITDA target to at least $155 million, and tightening capital expenditures to $180 million. It's clear they're on a mission not just to grow but to do it sustainably, benefiting pets, people, and the planet along the way.
For investors, Freshpet's Q3 performance speaks volumes. Reduced logistics costs and tighter expenses are boosting profit margins and adding long-term value, all while the company ramps up for what looks like even bigger growth. Freshpet is positioning itself as a frontrunner in the booming pet food sector, serving up more than just product—it's a high-growth opportunity that's proving it can deliver, quarter after quarter.
