Amid a questionable backdrop for the U.S. consumer economy, one factor has consistently stood out from the muck: Americans love their pets. And that reality appears to have fueled Freshpet (FRPT), a pet food company specializing in fresh, high-quality offerings for cats and dogs. Following a stronger-than-expected earnings print, FRPT stock popped higher. A possible short squeeze could keep the flames burning.
For the company’s fiscal first quarter, Freshpet posted revenue of $223.8 million. That significantly exceeded Wall Street’s consensus view of $216.1 million (or a 3.6% positive surprise). As well, the tally represented a 33.6% lift on a year-over-year basis. On the bottom line, earnings per share landed at 37 cents, well above expectations calling for a loss of 19 cents.
