Analyst: Freshpet Still a Top Dog Despite Earnings Miss
When pet food maker Freshpet (NASDAQ: FRPT) reported its fourth-quarter and full-year results for 2020 yesterday, it reported a loss of $0.08 per share, versus the $0.07 earnings per share (EPS) analyst consensus expected, Zacks Equity Research reports. Falling $0.15 short of Wall Street's expectations, the company's Q4 net loss amounts to $3.3 million, $7.9 million less than the $4.6 million net income registered in Q4 2019.
On a more positive note, net sales jumped 28.5% year over year, reaching $84.5 million and matching analyst predictions. Approximately the same results of net sales growth and a net loss are reported for Freshpet's full fiscal 2020. CEO Billy Cyr says the company "produced our fourth consecutive year of accelerating growth in 2020" and now expects to have 11 million households as customers by 2025 rather than the originally predicted 8 million, a 37% increase.
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Source Fool.com
