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Freshpet Q3 loss narrows YOY

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Freshpet Q3 loss narrows YOY

Freshpet Inc. said its normalized net income for the third quarter was a loss of 3 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 3 cents per share.

The per-share loss narrowed 94.6% year over year from 57 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.0 million, compared with a loss of $5.9 million in the prior-year period.

The normalized profit margin increased to negative 3.4% from negative 26.3% in the year-earlier period.

Total revenue rose 35.8% year over year to $30.6 million from $22.5 million, and total operating expenses grew 34.6% year over year to $32.1 million from $23.9 million.

Reported net income totaled a loss of $1.7 million, or a loss of 5 cents per share, compared to a loss of $12.4 million, or a loss of $1.19 per share, in the year-earlier period.