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Freshpet Q2 loss widens 59.7% YOY

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Freshpet Q2 loss widens 59.7% YOY

Freshpet Inc. said its normalized net income for the second quarter came to a loss of 5 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 7 cents per share.

The per-share loss increased 56.3% year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.6 million, compared with a loss of $1.0 million in the year-earlier period.

The normalized profit margin dropped to negative 4.1% from negative 3.1% in the year-earlier period.

Total revenue climbed 21.1% on an annual basis to $40.0 million from $33.0 million, and total operating expenses grew 21.5% year over year to $41.8 million from $34.4 million.

Reported net income totaled a loss of $2.7 million, or a loss of 8 cents per share, compared to a loss of $3.4 million, or a loss of 10 cents per share, in the year-earlier period.