Here's Why Freshpet Stock Soared to a 52-Week High Today

Shares of pet food company Freshpet (NASDAQ: FRPT) soared on Monday after the company reported financial results for the third quarter of 2024. The report was strong, and management raised guidance. This sent Freshpet stock up 15% as of 2:50 p.m. ET, allowing it to reach 52-week highs.In Q3, Freshpet grew net sales by 26% year over year to $253 million. And management shared an extraordinary statistic: Q3 marked the 25th consecutive quarter of at least 25% top-line growth. The rate that this business has compounded is simply hard to believe.It's been good for shareholders. Freshpet's fresh pet food products have a shorter shelf life than traditional pet food options. This means that manufacturing and distribution is important with this business. And its big infrastructure clearly benefits from scale.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool