Strong beat and raised guidance signal accelerating momentum; watch for continued volume growth and margin expansion in H2 2026. The raised long-term margin target suggests structural cost improvements, supporting further upside.
Price Chart
Executive Summary
Freshpet reported Q2 2026 net sales of $305.6M (+15.5% YoY) and GAAP diluted EPS of $0.39, beating consensus estimates of $0.22 by 77% and revenue estimates of $292.2M by 4.6%. The company raised its FY2026 guidance (net sales growth now 10-12%, Adjusted EBITDA $210-220M) and increased its long-term adjusted gross margin target to at least 49%, driven by strong volume growth, margin expansion, and cash flow generation.
Key Financial Metrics
Key Facts
- Net sales $305.6M, +15.5% YoY, driven by 15.7% volume growth
- GAAP diluted EPS $0.39 vs consensus $0.22 (beat by 77%)
- Adjusted Gross Margin 48.6% vs 46.9% YoY
- FY2026 guidance raised: net sales growth 10-12% (prev 8-11%), Adjusted EBITDA $210-220M (prev $205-215M)
- Long-term adjusted gross margin target raised to at least 49% (prev at least 48%)
- Adjusted EBITDA $52.2M vs $44.4M YoY
- Operating cash flow $84.8M, Free Cash Flow $27.4M in H1 2026
- Cash and equivalents $350.8M; debt $398.4M (convertible notes)
Financial Impact
EPS beat by 77% ($0.39 vs $0.22), revenue beat by 4.6% ($305.6M vs $292.2M), guidance raised by ~$5-10M at midpoint
Risk Factors
- Input cost volatility and tariff exposure
- Increased competition in fresh pet food category
- Execution risk on new technology lines and quality costs
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3339123 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | 8-K | $64.12 | awaiting T+20 | — | $64.75 (+0.98%) |
Aug 5, 2026 11w ago | 8-K | $71.47 $70.77 | ▼ −0.99% | ▼ −0.39% | $64.75 (−9.40%) |
Aug 5, 2026 11w ago | Press Release | $71.47 $70.77 | ▼ −0.99% | ▼ −0.39% | $64.75 (−9.40%) |
Jul 15, 2026 14w ago | Press Release | $56.23 $72.31 | ▲ +28.60% | ▲ +26.25% | $64.75 (+15.15%) |
May 22, 2026 22w ago | Insider Cluster | $51.00 $52.81 | ▲ +3.55% | ▲ +5.50% | $64.75 (+26.96%) |
May 8, 2026 24w ago | Insider Cluster | $53.08 $49.74 | ▼ −6.29% | ▼ −6.32% | $64.75 (+21.99%) |
Apr 27, 2026 26w ago | DEFA14A | $65.65 $51.00 | ▼ −22.32% | ▼ −27.78% | $64.75 (−1.37%) |
US Market Status
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