Q2 26 EPS
$0.39
Q2 26 Revenue
$305.6M
vs S&P Since Q2 26
+6.4%
BEATING MARKET
FRPT +6.9% vs S&P +0.5%
Market Reaction
Did FRPT Beat Earnings? Q2 2026 Results
Freshpet delivered a strong second quarter, posting earnings per share of $0.39 and revenue of $305.59 million as the fresh pet food maker extended its streak of beating consensus EPS estimates to four consecutive quarters. Net sales climbed 15.5% ye… Read more Freshpet delivered a strong second quarter, posting earnings per share of $0.39 and revenue of $305.59 million as the fresh pet food maker extended its streak of beating consensus EPS estimates to four consecutive quarters. Net sales climbed 15.5% year-over-year, powered almost entirely by volume gains of 15.7%, a result that quieted pre-report concerns about whether the company's double-digit growth trajectory could hold. The primary engine behind the beat was disciplined cost management, with adjusted gross margin expanding 170 basis points to 48.6% on lower input costs and better plant leverage, even as startup expenses tied to new bag technology lines created some headwind. Household penetration grew 5% broadly, with the company's most engaged customers up 11%, signaling durable consumer demand rather than a one-time lift. Management raised its full-year 2026 guidance, now targeting net sales growth of 10%-12% and Adjusted EBITDA of $210 million to $220 million, while also lifting its 2027 adjusted gross margin target to above 49%.
Key Takeaways
- • Volume gains of 15.7% drove net sales growth, partially offset by unfavorable price/mix of 0.2%
- • Lower input costs and improved leverage on plant expenses drove gross margin expansion
- • Total household penetration grew 5% to 15.9 million households
- • MVP (Most Valuable Pet Parent) household penetration grew 11% to 2.6 million
- • Buy rate increased 7% to $117
- • Ecommerce represents 16.7% of sales
- • Total distribution points grew 13%
- • Consumption growth across all retail channels including XAOC, Food, and Pet Specialty
FRPT Forward Guidance & Outlook
For full year 2026, Freshpet raised its guidance: net sales growth now expected at 10%-12% (from 8%-11%); Adjusted EBITDA now expected at $210M-$220M (from $205M-$215M); capital expenditures unchanged at approximately $150M with positive Free Cash Flow expected. The company also expects ~100-150 bps adjusted gross margin improvement year-over-year and anticipates higher costs in logistics and packaging. For 2027, Freshpet raised its Adjusted Gross Margin target to >49% (from >48%), maintained Adjusted EBITDA margin target of 20%-22%, and expects net sales growth well in excess of category growth rate. Freshpet believes the fresh pet food category can become a $10 billion category over time.
FRPT YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
“Our second quarter performance demonstrates the strength and resilience of our business model. It also reinforces our belief that fresh is the future of pet food and that Freshpet is uniquely positioned to win in that segment.”
— Billy Cyr, Q2 2026 Earnings Press Release
FRPT Earnings Trends
FRPT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
FRPT EPS Trend
Earnings per share: estimate vs actual
FRPT Revenue Trend
Quarterly revenue: estimate vs actual
FRPT Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 | — | $0.39 | — | $305.6M | — |
| Q1 26 BEAT | $0.09 | $0.91 | +929.41% | $297.6M | +2.10% |
| Q4 25 BEAT FY | $0.48 | $0.64 | +34.31% | $285.2M | -0.17% |
| FY Full Year | $2.73 | $2.64 | -3.39% | $1.10B | -0.05% |
| Q3 25 BEAT | $0.40 | $1.86 | +359.83% | $288.8M | +1.80% |
| Q2 25 BEAT | $0.16 | $0.33 | +112.90% | $264.7M | -1.21% |
| Q1 25 MISS | $0.09 | $-0.26 | -385.40% | $263.2M | +1.93% |