Why Freshpet's CEO Believes Revenue Run Rate Could Hit $1 Billion in 2022
Pet food is a boring, sluggish industry with growth rates historically under 5%. Freshpet (NASDAQ: FRPT) is an anomaly in that its refrigerated dog and cat food is growing fast and taking market share. For its first quarter, the company reported that revenue had grown 33% year over year to $93.4 million.
That's clearly a standout result for the industry, but what's really exciting is that management is positioning itself to generate as much as 75% revenue growth by the fourth quarter. And this is not a one-time phenomenon. The company could even reach a $1 billion dollar annual run rate on its top line by 2022. Here's why Freshpet sales are set to soar higher.
image source: Getty Images.
Source Fool.com
