Freshpet Inc.’s stock
FRPT,
was up 9% in premarket trading on Monday after the company reported a narrower-than-expected third-quarter loss and boosted its revenue outlook for 2023. Freshpet reported a third-quarter loss of 15 cents a share, narrower than the FactSet consensus estimate of 16 cents a share. Its third-quarter revenue of $200.6 million also beat the analyst estimate of $194.5 million. Looking ahead, Freshpet expected 2023 revenue of about $755 million, up from its earlier estimate of $750 million and ahead of the analyst expectation of $750.8 million. “Our strengthened organization is delivering improved margins from better operational performance in logistics, input costs and quality while maintaining strong volume-based revenue growth,” the company said.
