Overview
- Adjusted EPS reached $1.86 on revenue of $288.8 million, up 14% year over year on 12.9% volume growth and a 1.1% price/mix lift.
- Management now guides to about 13% 2025 net sales growth and $190–$195 million in adjusted EBITDA, and it cut capital spending to roughly $140 million.
- Free cash flow was positive in the quarter and is expected to be positive for 2025, while a $77.9 million deferred tax benefit helped drive net income to $101.7 million.
- Category consumption growth slowed to 9% from 26% a year earlier, and Freshpet says existing capacity can support growth for 2–3 years with a Bethlehem bag-line retrofit planned for spring 2026.
- CEO Billy Cyr plans Rule 10b5-1 option exercises while retaining at least 350,000 shares, CFO Todd Cunfer departed for Campbell Soup with Ivan Garcia as interim CFO, and the stock jumped as analysts split with Jefferies cutting to Hold and Benchmark staying Buy.