Stock Story -
Pet food company Freshpet (NASDAQ:FRPT) will be reporting earnings tomorrow morning. Here's what to look for.
Freshpet beat analysts' revenue expectations by 3.6% last quarter, reporting revenues of $223.8 million, up 33.6% year on year. It was a solid quarter for the company, with an impressive beat of analysts' earnings estimates.
Is Freshpet a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Freshpet's revenue to grow 26% year on year to $231 million, in line with the 25.6% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.06 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Freshpet has missed Wall Street's revenue estimates twice over the last two years.
Looking at Freshpet's peers in the perishable food segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Pilgrim's Pride delivered year-on-year revenue growth of 5.8%, missing analysts' expectations by 1.4%, and Cal-Maine reported a revenue decline of 7%, falling short of estimates by 1.8%. Pilgrim's Pride traded up 2.3% following the results while Cal-Maine was also up 3.1%.
Read the full analysis of Pilgrim's Pride's and Cal-Maine's results on StockStory.
There has been positive sentiment among investors in the perishable food segment, with share prices up 4% on average over the last month. Freshpet is down 9.8% during the same time and is heading into earnings with an average analyst price target of $139.4 (compared to the current share price of $122.3).
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