Freshpet Stock Plunges On FY21 Outlook Cut

Freshpet Inc FRPT lowered its FY21 sales outlook to $425 million - $430 million from the previous view of ~$445 million, against the consensus of $442.24 million.
The company expects adjusted EBITDA for FY21 to be about $42 million (prior view ~$50 million).
"Supply chain issues continue to cause new challenges for our business, this time with parts supplies for key packaging components," said CEO Billy Cyr.
In November, Freshpet reported Q3 sales of $107.6 million, missing the consensus of $115.81 million.
Price Action: FRPT shares are trading lower by 7.12% at $88.56 on the last check Friday.

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