FRESHPET Reports 25.6% Increase in 2nd Quarter Revenue for FY2023 Ending June 30 2023
August 20, 2023
☀️Earnings Overview
FRESHPET ($NASDAQ:FRPT) reported its earnings results for the second quarter of FY2023 (ending June 30 2023) on August 7 2023. The total revenue was USD 183.3 million, representing a 25.6% increase from the same period in the prior year.
Analysis
Analyzing FRESHPET‘s fundamentals with GoodWhale reveals that the company is classified as ‘cheetah’, indicating that it has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Investors who are interested in such a company would likely be growth-oriented investors who are looking for companies that have a higher potential for returns. FRESHPET is strong in growth, medium in asset, profitability and weak in dividend. When looking at their health score, FRESHPET has an intermediate score of 6/10 which suggests that they are likely to be able to sustain future operations in times of crisis. Investors who are looking for a company with a strong health score should look elsewhere, however investors who are looking for exposure to a higher-risk company with a potential for higher returns should consider FRESHPET. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Freshpet. More…
| Total Revenues | Net Income | Net Margin |
| 668.02 | -63.1 | -9.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Freshpet. More…
| Operations | Investing | Financing |
| 18.94 | -331.31 | 249.06 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Freshpet. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.41k | 472.59 | 21.47 |
Key Ratios Snapshot
Some of the financial key ratios for Freshpet are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 33.4% | – | -7.4% |
| FCF Margin | ROE | ROA |
| -32.7% | -3.3% | -2.2% |
Peers
The company’s primary competitors are Thai Union Group PCL, Ebro Foods SA, and Marfrig Global Foods SA.
– Thai Union Group PCL ($SET:TU)
Thai Union Group PCL is a food and seafood company that has a market cap of 84.72B as of 2022. The company has a return on equity of 9.2%. Thai Union Group is one of the world’s largest producers of canned tuna and other seafood products. The company has over 46,000 employees and operates in more than 90 countries.
– Ebro Foods SA ($OTCPK:EBRPY)
Ebro Foods is a Spanish food company with operations in Europe, America, and Asia. The company produces and markets a wide range of food products, including rice, pasta, sauces, and canned goods. In addition to its own brands, Ebro Foods also manufactures and markets products under license from other companies, such as Unilever and Nestlé.
Ebro Foods has a market capitalization of 2.42 billion euros as of 2022. The company’s return on equity was 6.32% in the same year.
Ebro Foods is a leading food company in Spain with a strong presence in international markets. The company’s diversified product portfolio and wide geographic reach have allowed it to generate consistent growth and profitability over the years. Going forward, Ebro Foods is well-positioned to continue delivering shareholder value as it expands its operations in existing markets and enters new ones.
– Marfrig Global Foods SA ($OTCPK:MRRTY)
Marfrig Global Foods SA is a Brazilian company that is engaged in the business of meatpacking, with operations in Brazil, Europe, and the United States. The company is headquartered in São Paulo and was founded in 1953. Marfrig Global Foods SA has a market cap of 1.33B as of 2022, a Return on Equity of 144.61%. The company is one of the world’s largest producers of burgers and chicken nuggets.
Summary
FRESHPET reported strong second quarter earnings results for FY2023, with total revenue up 25.6% year-over-year to USD 183.3 million and net income at -17.0 million, a decrease from the prior year of -20.6 million. Investors reacted favorably to the news, with the stock price increasing the same day. This demonstrates that investors remain confident in the company’s growth prospects and performance, despite continued macroeconomic headwinds. Looking ahead, investors should monitor FRESHPET’s performance and potential catalyst events that could further improve its financial outlook.
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