Freshpet announced its board approved a new $150 million stock repurchase authorization, citing the company’s financial position, operational efficiencies, and continued growth in the fresh pet food category.
Quick Takeaways
- Freshpet authorized up to $150 million in common stock repurchases.
- The company said the program reflects confidence in its balance sheet and long-term growth strategy.
- Freshpet plans to continue prioritizing investment in innovation and expansion within fresh pet nutrition.
- The authorization has no expiration date and repurchases may occur through open market purchases or other approved methods.
Freshpet CFO John O’Connor said the company expects to balance continued investment in growth initiatives with returning capital to shareholders when leadership believes the stock is trading below intrinsic value.
The company said the repurchase program may be funded through existing cash, operational cash flow, or future borrowings.
Information sourced from the company’s announcement.
