Multi-decade high inflation has affected various businesses across sectors as rising costs have hit profitability. Freshpet, Inc. (FRPT) benefitted during the pandemic due to the rise in pet adoptions. However, FRPT significantly missed the consensus earnings estimate in the second quarter as it struggled with rising costs.
FRPT is engaged in manufacturing, marketing, and distributing pet food and pet treats for dogs and cats. The company’s products include dog food, cat food, and dog treats. Its products are sold under the Freshpet brand name. It also offers fresh treats across all retail classes under the Dognation and Dog Joy labels.
