By Denny Jacob

Freshpet trimmed its outlook for the year to plan as if first-quarter conditions were to continue for the balance of the year, said Chief Executive Billy Cyr.

"Our growth year-to-date has not been as robust as we had anticipated so we are adapting our growth plans to the current economic challenges," said Cyr.

The pet-food producer now expects sales for the year to come in between $1.12 billion and $1.15 billion, down from a prior in the range of $1.18 billion and $1.21 billion. It also expects adjusted before interest, taxes, depreciation and amortization is expected to be between $190 million and $210 million versus its previous forecast of at least $210 million.

The Bedminster, N.J., company recorded a loss of $12.7 million, or 26 cents a share, for the January to March period, compared to net income of $18.6 million, or 37 cents a share, in the prior-year period.

Sales rose to $263.2 million from $223.8 million. Analysts

Freshpet said the sales increase was primarily driven by volume and some favorable price/mix, while the loss was due to an increase in selling, general and administrative expenses.

Selling, general and administrative expenses totaled $115.3 million in the quarter compared to $79.7 million in the year-ago period. Freshpet said the increase was due to an increase in spending on media and certain non-recurring charges, among other factors.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

May 05, 2025 07:07 ET (11:07 GMT)

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