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Freshpet stock drops after pet-food company cuts earnings outlook

·1 min read
Freshpet stock drops after pet-food company cuts earnings outlook

Shares of Freshpet Inc. were down more than 11% in after-hours trading Monday after the maker of pet foods cut its earnings forecast for the full year, acknowledging pressures from inflation and operating challenges. The company logged a net loss of $20.6 million, or 45 cents a share, compared with a loss of $7.5 million, or 17 cents a share, in the year-before period. Freshpet executives attributed the growing loss largely to an increase in selling, general, and administrative expenses, includi