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Benzinga
Benzinga
Business
Shivani Kumaresan

Freshpet Stock Plunges On FY21 Outlook Cut

  • Freshpet Inc (NASDAQ:FRPT) lowered its FY21 sales outlook to $425 million - $430 million from the previous view of ~$445 million, against the consensus of $442.24 million.
  • The company expects adjusted EBITDA for FY21 to be about $42 million (prior view ~$50 million).
  • "Supply chain issues continue to cause new challenges for our business, this time with parts supplies for key packaging components," said CEO Billy Cyr.
  • In November, Freshpet reported Q3 sales of $107.6 million, missing the consensus of $115.81 million.
  • Price Action: FRPT shares are trading lower by 7.12% at $88.56 on the last check Friday.
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