Why Freshpet (FRPT) Shares Are Down 11% Today

Freshpet (NASDAQ: FRPT) shares are down 11.5% in pre-open Friday after the company revised its full-year guidance after experiencing supply chain issues.

Freshpet now expects revenue between $425 million and $430 million for full-year 2021 and adjusted EBITDA to be approximately $42 million for full-year 2021.

This compares to sales of ~$445 million and adjusted EBITDA of ~$50 million communicated on November 08.

“Supply chain issues continue to cause new challenges for our business, this time with parts supplies for key packaging components. While we’ve since solved this issue, it nonetheless caused a temporary decrease in production, which in turn is resulting in the revision to our full year expectations that we are updating today,” commented Billy Cyr, Freshpet’s Chief Executive Officer.

Freshpet stock price closed at $95.35 yesterday.

Freshpet shares were already down 31% YTD based on yesterday's closing price.

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