Freshpet Inc Reports Second Quarter 2024 Financial Results
Intellectia.AI Updated: 2024-08-08
Freshpet Inc. Reports Second Quarter 2024 Financial Results
Freshpet Inc. has announced its financial results for the second quarter ending June 30, 2024.
Key Financial Metrics
| Metric | Q2 2023 | Q2 2024 | YoY Change | Consensus Estimates |
|---|---|---|---|---|
| Total Revenue | $183.3M | $235.3M | +28.3% | $231.05M |
| Earnings Per Share (EPS) | $-0.05 | $0.01 | N/A | $-0.05 |
Interpretation: Freshpet posted strong year-over-year revenue growth of 28.3%, reaching $235.3 million for Q2 2024, which surpassed the consensus estimate of $231.05 million. Earnings per share were $0.01, also beating the consensus estimate of $-0.05. This notable improvement underscores the company's effective management and substantial consumer demand.
Revenue Performance by Segments
| Segment | Q2 2023 | Q2 2024 | Growth |
|---|---|---|---|
| Grocery, Mass, International & Digital | N/A | N/A | $37.4M |
| Pet Specialty & Club | N/A | N/A | N/A |
Interpretation: Specific segment performance data were not provided for the previous periods or guidance, but revenue growth was driven by a $37.4 million increase in the Grocery, Mass, International, and Digital channels. The Pet Specialty and Club channel also contributed to the overall revenue increase.
Stock Price Movement
Following the earnings release, Freshpet's stock experienced a slight decrease of -0.58%.
Overall, Freshpet Inc. demonstrated a strong performance in Q2 2024 with significant revenue growth and better-than-expected earnings. However, the stock market reaction was slightly negative, emphasizing the importance of forward-looking statements and future guidance for investors.
