Freshpet, Inc. Q2 2026 Earnings Recap

Freshpet’s shares jumped 7% after the company reported second quarter results that beat expectations on growth and margins, prompting an upward revision to full-year sales and adjusted EBITDA guidance.

Key Takeaways

• Delivered strongest growth rate in over a year, driven by a 13% combined increase in household penetration and buying rate, with buying rate alone up 7% over the past 52 weeks.
• Achieved highest adjusted gross margin since Q1 2020, underscoring manufacturing scale and cost advantages.
• Raised 2026 sales and adjusted EBITDA guidance ranges, reflecting confidence despite ongoing macroeconomic pressures like higher gas prices and cautious consumer spending.
• Digital orders grew 41%, now comprising 16.7% of total sales, supported by an expanding fridge network that also enables omnichannel fulfillment.
• Total distribution points expanded 13% in Q2, with further selective expansion planned in rural lifestyle retail channels and club stores.