Freshpet ( NASDAQ: FRPT ) fell 3.85% in Wednesday afternoon trading after the company announced that Chief Financial Officer Heather Pomerantz is stepping down from the company to pursue other opportunities.
While Freshpet ( FRPT ) searches for her replacement, current Vice Chairman and previous Freshpet CFO Dick Kassar will serve as Interim CFO.
Freshpet ( FRPT ) noted that Pomerantz’s resignation did not result from any disagreement with the company concerning any matter relating to the company’s financial reporting, policies or practices.
Looking ahead, Freshpet ( FRPT ) CEO Billy Cyr said the company is making some targeted investments to reduce volatility and add capabilities that can help it deliver profitable growth.
Freshpet ( FRPT ) also updates guidance, saying it still sees 2022 sales of greater than $575M, adjusted EBITDA of greater than $48M and capital expenditures of ~$320M. The retailer warned that adjusted EBITDA in the second half will skew toward Q4, with an about 75%-25% split between Q4 and Q3.
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Freshpet falls after CFO resignation, guidance update