Wrapping up Q3 earnings, we look at the numbers and key takeaways for the perishable food stocks, including Freshpet (NASDAQ: FRPT) and its peers.

The perishable food industry is diverse, encompassing large-scale producers and distributors to specialty and artisanal brands. These companies sell produce, dairy products, meats, and baked goods and have become integral to serving modern American consumers who prioritize freshness, quality, and nutritional value. Investing in perishable food stocks presents both opportunities and challenges. While the perishable nature of products can introduce risks related to supply chain management and shelf life, it also creates a constant demand driven by the necessity for fresh food. Companies that can efficiently manage inventory, distribution, and quality control are well-positioned to thrive in this competitive market. Navigating the perishable food industry requires adherence to strict food safety standards, regulations, and labeling requirements.

The 11 perishable food stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 1.4% while next quarter’s revenue guidance was in line.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

Freshpet (NASDAQ: FRPT)

Standing out from typical processed pet foods, Freshpet (NASDAQ: FRPT) is a pet food company whose product portfolio includes natural meals and treats for dogs and cats.

Freshpet reported revenues of $288.8 million, up 14% year on year. This print exceeded analysts’ expectations by 1.7%. Overall, it was a very strong quarter for the company with a beat of analysts’ EPS estimates and an impressive beat of analysts’ adjusted operating income estimates.

"We are quickly adjusting to the new economic reality and remain one of the best performing pet food businesses—with strong financial and operational results and category-leading growth," commented Billy Cyr, Freshpet’s Chief Executive Officer.

Interestingly, the stock is up 30.6% since reporting and currently trades at $63.82.

Is now the time to buy Freshpet? Access our full analysis of the earnings results here, it’s free.

Best Q3: Mission Produce (NASDAQ: AVO)

Founded in 1983 in California, Mission Produce (NASDAQ: AVO) grows, packages, and distributes avocados.

Mission Produce reported revenues of $319 million, down 10% year on year, outperforming analysts’ expectations by 8.5%. The business had an incredible quarter with an impressive beat of analysts’ gross margin estimates and a solid beat of analysts’ EBITDA estimates.

Mission Produce delivered the biggest analyst estimates beat among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 3.5% since reporting. It currently trades at $12.67.

Is now the time to buy Mission Produce? Access our full analysis of the earnings results here, it’s free.

Weakest Q3: Beyond Meat (NASDAQ: BYND)

A pioneer at the forefront of the plant-based protein revolution, Beyond Meat (NASDAQ: BYND) is a food company specializing in alternatives to traditional meat products.

Beyond Meat reported revenues of $70.22 million, down 13.3% year on year, exceeding analysts’ expectations by 2.1%. Still, it was a softer quarter as it posted revenue guidance for next quarter missing analysts’ expectations significantly and a significant miss of analysts’ EBITDA estimates.

As expected, the stock is down 29.9% since the results and currently trades at $0.95.

Read our full analysis of Beyond Meat’s results here.

Fresh Del Monte Produce (NYSE: FDP)

Translating to "of the mountain" in Spanish, Fresh Del Monte (NYSE: FDP) is a leader in providing high-quality, sustainably grown fresh fruits and vegetables.

Fresh Del Monte Produce reported revenues of $1.02 billion, flat year on year. This print lagged analysts' expectations by 1.9%. Taking a step back, it was still a very strong quarter as it produced a solid beat of analysts’ EBITDA estimates and a beat of analysts’ EPS estimates.

The stock is up 5.4% since reporting and currently trades at $36.22.

Read our full, actionable report on Fresh Del Monte Produce here, it’s free.

Pilgrim's Pride (NASDAQ: PPC)

Offering everything from pre-marinated to frozen chicken, Pilgrim’s Pride (NASDAQ: PPC) produces, processes, and distributes chicken products to retailers and food service customers.

Pilgrim's Pride reported revenues of $4.76 billion, up 3.8% year on year. This number beat analysts’ expectations by 0.8%. It was a very strong quarter as it also produced an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ gross margin estimates.

The stock is up 6% since reporting and currently trades at $40.41.

Read our full, actionable report on Pilgrim's Pride here, it’s free.

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