Freshpet Inc.’s inventory was up by 13% in premarket buying and selling on Monday after the pet-food firm’s fourth-quarter income and revenue topped analyst estimates.
Freshpet
FRPT,
stated it earned $15.66 million, or 31 cents a share within the fourth quarter. In the year-ago interval, Freshpet misplaced $2.59 million, or 6 cents a share.
Analysts estimated Freshpet would earn 7 cents a share within the newest quarter, in keeping with FactSet knowledge.
Freshpet cited larger gross sales, elevated gross margin, and decreased logistics prices as a proportion of web gross sales for its larger revenue. These elements had been partially offset by elevated media spending of $10.4 million and promoting, common and administrative bills.
Freshpet’s gross sales climbed to $215.4 million from $165.8 million, forward of the FactSet consensus estimate of $204.6 million.
Looking forward, Freshpet expects 2024 gross sales of about $950 million, forward of the analyst estimate of $945.5 million.
Freshpet’s inventory was up by $12 to $104.01, the primary time it’s traded above $100 in about two years.
Source web site: www.marketwatch.com
