Here's How Freshpet (FRPT) Looks Just Ahead of Q3 Earnings
Freshpet, Inc. FRPT is likely to register an increase in the top and the bottom lines when it reports third-quarter 2023 earnings on Nov 6, before the opening bell. The Zacks Consensus Estimate for quarterly revenues is pegged at $151 million, indicating a rise of about 30.4% from the prior-year quarter’s reported figure.
The consensus estimate for the third quarter is pegged at a loss of 17 cents per share, which is narrower than the year-earlier quarterly loss of 39 cents a share. The consensus mark has been stable over the past 30 days.
This pet food company has a negative earnings surprise of 16.7%, on average.
Factors to Note
Freshpet’s top line during the third quarter is likely to have gained from strong product offerings. To boost portfolio strength, the company has been engaged in well-chalked innovations. It has been striving to expand fresh and natural ingredients-based pet food products. The company is also likely to have gained from improved distribution and retail availability, backed by enhanced production levels.
Additionally, management is optimistic about the company, backed by robust demand, significant capacity, state-of-the-art facility, logistics, quality and commodity cost management. All the aforesaid tailwinds coupled with pricing and distribution gains are likely to have aided results during the quarter under review.
However, the company’s performance in the to-be-reported quarter is likely to have been adversely impacted by a tough operating landscape, including inflationary pressures. Any deleverage in the selling, general and administrative expenses is likely to have been a drag. The company has been witnessing higher selling, general and administrative costs for a while now.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Freshpet this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Freshpet, Inc. Price and EPS Surprise
Freshpet, Inc. price-eps-surprise | Freshpet, Inc. Quote
Freshpet has an Earnings ESP of 0.00% and a Zacks Rank of 3.
Stocks With Favorable Combination
Here are some companies, which according to our model, have the right combination of elements to beat on earnings this season:
e.l.f. Beauty ELF currently has an Earnings ESP of +0.42% and a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is likely to register top and bottom-line growth when it reports third-quarter 2023 numbers. The Zacks Consensus Estimate for e.l.f. Beauty’s quarterly earnings per share of 54 cents suggests an increase of 50% from the year-ago quarter’s levels.
ELF has a trailing four-quarter negative earnings surprise of 108.3%, on average. The consensus estimate for e.l.f. Beauty’s quarterly revenues is pegged at $197.3 million, indicating a rise of 61.2% from the figure reported in the prior-year quarter.
Build-A-Bear Workshop BBW currently has an Earnings ESP of +0.66% and a Zacks Rank of 1. The Zacks Consensus Estimate for third-quarter fiscal 2023 earnings per share is pegged at 51 cents, flat year over year.
Build-A-Bear Workshop’s top line is expected to increase year over year. The consensus estimate for quarterly revenues is pegged at $107.6 million, which indicates an increase of 3% from the figure reported in the prior-year quarter. BBW has a trailing four-quarter earnings surprise of 21.6%, on average.
Church & Dwight Co. CHD has an Earnings ESP of +2.21% and a Zacks Rank of 3. The company is slated to witness top-line growth when it reports third-quarter 2023 results. The Zacks Consensus Estimate for CHD’s quarterly revenues is pegged at $1.43 billion, which suggests growth of 8.7% from the figure reported in the prior-year quarter.
Although the consensus estimate for Church & Dwight’s quarterly earnings has moved up by a penny over the past 30 days to 68 cents per share, it suggests a decline of 10.5% from the year-ago quarter’s reported number. CHD delivered an earnings surprise of 12.1%, on average, in the trailing four quarters.
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Church & Dwight Co., Inc. (CHD) : Free Stock Analysis Report
Freshpet, Inc. (FRPT) : Free Stock Analysis Report
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e.l.f. Beauty (ELF) : Free Stock Analysis Report
