)
)
Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Freshpet
Freshpet (FRPT) investor relations material
Freshpet Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary4 Nov, 2026
Executive summary
Q3 net sales rose 10.0% YoY to $317.8M, entirely volume-driven; adjusted gross margin reached 50.0%, up 400 bps and the highest in over seven years.
Adjusted EBITDA rose to $64.5M from $54.6M; FY26 sales and adjusted EBITDA guidance increased, while capex guidance declined on operating gains and newly unlocked capacity.
Growth initiatives span targeted advertising, retail and online access, product innovation, manufacturing technology, and the MVP consumer base.
Financial highlights
Q3 net sales were $317.8M, up 10.0% YoY; volume contributed 10.0% and price/mix 0%. Nielsen-measured growth was 12.7%, with unmeasured channels adding 1–2 points.
Adjusted gross margin was 50.0%, up from 46.0%; gains reflected plant-expense leverage, lower quality costs, and lower input costs as a share of revenue.
Adjusted EBITDA was $64.5M, or 20.3% of sales, versus $54.6M and 18.9% a year earlier.
Net income was $29.7M versus $101.7M; the prior-year period included a $77.9M deferred tax benefit from a valuation allowance release.
Q3 operating cash flow was $60.8M; capex of $22.9M supported free cash flow of $37.8M versus $31.6M a year earlier.
Outlook and guidance
FY26 sales-growth guidance rose to 12%–13% from 10%–12%; adjusted EBITDA guidance narrowed to $215M–$220M from $210M–$220M.
FY26 adjusted gross margin is expected to improve ~150 bps at the sales-guidance midpoint; Q4 margin is expected to step down sequentially due to downtime, holidays, and added staffing.
FY26 capex guidance fell to $125M–$150M from ~$150M; free cash flow is expected to exceed 2025.
FY27 targets include sales growth well above category growth, adjusted gross margin of at least 49%, and adjusted EBITDA margin of 20%–22%; absent significant inflation relief, EBITDA margin could be in the lower half of its range.
Selective FY27 price increases and productivity, sourcing, formulation, G&A, throughput, yield, and quality initiatives are intended to offset inflation; FY26 media spend is expected at ~12.5% of sales.
Partial view of Summaries dataset, powered by Quartr API
AI can get things wrong. Verify important information.Research faster. Power your platform.
Latest events from Freshpet
- Omni-channel growth, innovation, and margin expansion position the business to lead fresh pet food.FRPT
Barclays 19th Annual Global Consumer Conference - Q2 2026 net sales up 15.5%, margin and EBITDA guidance raised on omni-channel and innovation gains.FRPTQ2 2026
- Q1 2026 net sales up 13.1%, net income $48.5M, and guidance raised on digital and margin gains.FRPTQ1 2026
- Q3 2025 sales up 14%, EBITDA and net income surge, free cash flow positive, guidance narrowed.FRPTQ3 2025
- Q2 2025 net sales rose 12.5% with margin gains, capex cuts, and reaffirmed profitability targets.FRPTQ2 2025
- Q3 net sales up 26%, margins expanded, and 2024 guidance raised on strong execution.FRPTQ3 2024
- Q2 2024 net sales up 28.3% with margin gains and raised full-year guidance.FRPTQ2 2024
- Q1 net sales up 18%, but net loss and reduced outlook reflect higher costs and headwinds.FRPTQ1 2025
- Record sales, margin gains, and first positive net income drive upgraded long-term targets.FRPTQ4 2024
Next Freshpet earnings date
Stephens Annual Investment Conference19 Nov, 2026
Freshpet
Next Freshpet earnings date
Stephens Annual Investment Conference19 Nov, 2026
AI chat
Ask anything. Verify everything.
Ask across every event and document from public companies. Each answer links back to the exact line in the transcript, slide or filing it came from.Learn moreFind what matters
AI across all first-party IR material. Live calls, transcripts, slides, filings.)
Trust every finding
50m+ first-party documents. Every output traceable to its source.Find what matters
AI across all first-party IR material. Live calls, transcripts, slides, filings.Trust every finding
50m+ first-party documents. Every output traceable to its source.Automations
Zero in on what matters
Define the prompt once. It runs the moment a company publishes or on a schedule you set. Outputs map to the exact signals you choose.Learn more)
Event-triggered research
Runs when a company publishes new material. Trigger on the first published document for the earliest possible run, or wait for a specific one.)
Scheduled research
Runs on a recurring cadence you set. Daily, weekly, monthly, or quarterly, for aggregate reads across a period rather than a single event.Event-triggered research
Runs when a company publishes new material. Trigger on the first published document for the earliest possible run, or wait for a specific one.Scheduled research
Runs on a recurring cadence you set. Daily, weekly, monthly, or quarterly, for aggregate reads across a period rather than a single event.Live audio & transcripts
Be first
Join any earnings call live in one click, with no manual registration. Follow the transcript as it happens and jump straight to the moments that matter.Learn more)
Live earnings calls
Join any call in one click. The audio keeps playing while you work elsewhere in Quartr.)
Live transcripts
Speaker-by-speaker, in real time. Searchable across every live and historical call.Live earnings calls
Join any call in one click. The audio keeps playing while you work elsewhere in Quartr.Live transcripts
Speaker-by-speaker, in real time. Searchable across every live and historical call.Quartr MCP connects your AI environment to 17K+ public companies
Pull live transcripts, filings, and slides into Claude or Codex via MCP. Combine Quartr's global IR data with any other dataset. Run agentic research and monitoring.
Included with Quartr Pro at no extra cost.Learn more
Quartr's AI stands out because it only pulls clean, first-party data from public companies. In investing, that's everything.
Jamie Ross
Investment Manager, GAM Investments
GAM
GAM
Research that used to take hours now takes seconds with Quartr Pro. Tracking shifts in tone or extracting tables, it's as simple as typing a query.
Tom O'Hara
Investment Director
Ciena
Ciena
Before Quartr we spent hours manually compiling insights through the peer earnings cycle. Now, these tasks are done faster, with greater precision.
Gregg Lampf
VP of Investor Relations
Protean
Protean
Being able to ask specific questions across years of transcripts and reports and instantly get verified answers is a game-changer.
Pontus Dackmo
CEO & Investment Manager
)
)
Frequently asked questions
Fresh Pet Food
Freshpet is an American company that, as suggested by its name, manufactures and sells fresh pet food that needs to be refrigerated. The company markets its products as a healthier and fresher alternative to traditional pet food and has both cat and dog food in its portfolio of products. The company is headquartered in Secaucus, New Jersey, and its shares are traded on the Nasdaq.
Founded by Pet Food Executives
Founded in 2006 the company was started by former pet food executives Scott Morris, and Cathal Walsh, who identified a niche in the pet food market for products that focused on fresh, whole ingredients with minimal processing. Freshpet set itself apart by providing these refrigerated foods and marketing them as a healthier and better alternative to traditional dry or canned pet food options. The brand's growth reflected a shift in consumer preferences towards more natural and fresh food options for pets. Today, the company’s products are sold at retailers such as Walmart and Target, as well as at specialized pet stores.
For Cats and Dogs
Freshpet offers a range of refrigerated food products for both dogs and cats, focusing on fresh, natural ingredients. Their dog food line includes various forms such as rolls, bagged meals, and patties, catering to different canine dietary needs and preferences. These products typically feature real meats, vegetables, and grains, without preservatives or fillers. Freshpet also provides grain-free and chicken-free options to accommodate dogs with specific dietary restrictions or allergies.
For cats, Freshpet's selection is similarly crafted with fresh, high-quality ingredients, including poultry, beef, and fish. The cat food range offers meals in both rolled and bagged formats. These recipes are designed to meet feline nutritional requirements, with an emphasis on high protein content and essential vitamins and minerals.
Across both ranges, Freshpet emphasizes the use of natural ingredients, minimal processing, and the absence of artificial preservatives, aiming to offer pet food that is closer to a natural diet. This is something that has become more and more important to consumers as the years pass, as it has become easier than ever before to become educated on what pets need in order to live long and healthy lives.