Quarterly ResultMay 6, 2026, 06:37 AM
Freshpet Q1 Net Sales +13.1% to $297.6M; Raises 2026 Sales Guidance
AI Summary
Freshpet reported strong first-quarter 2026 financial results, with net sales increasing 13.1% to $297.6 million and a significant turnaround to a net income of $48.5 million from a prior-year net loss. The company also delivered a 46.9% Adjusted Gross Margin and $37.9 million in Adjusted EBITDA. Building on this performance, Freshpet raised its full-year 2026 net sales growth guidance to a range of 8% to 11%, while maintaining its Adjusted EBITDA and capital expenditure outlook. The company highlighted strong operational progress, including growth in household penetration and early success with new manufacturing technology.
Key Highlights
- Net sales increased 13.1% to $297.6 million for the first quarter of 2026.
- Reported net income of $48.5 million, a significant improvement from a $12.7 million net loss in Q1 2025.
- Adjusted EBITDA grew to $37.9 million from $35.5 million in the prior year period.
- Adjusted Gross Margin improved to 46.9% from 45.7% year-over-year.
- Raised full-year 2026 net sales growth guidance to a range of 8% to 11% from previous 7% to 10%.
- Generated $40.3 million in operating cash flow and $12.7 million in positive free cash flow for the quarter.
- The first new technology bag line successfully commenced production in January 2026.
- Cash and cash equivalents stood at $381.4 million as of March 31, 2026.