Real Good Foods disclosed preliminary third-quarter sales below its prior forecast.
The health and wellness frozen foods company said sales for the three months ended Sept. 30 are expected to be between $55 million and $57 million, up from a year earlier. However, this is lower than its prior guidance of sales between $60 million and $65 million.
Real Good Foods said its sales growth wasn’t able to keep up with its consumption growth in the quarter due to sharper than expected increases in consumption and being more heavily weighted towards the back end of the quarter than expected.
The Cherry Hill, N.J.-based company also lowered its sales view for the year ending Dec. 31. It guided for sales in the range of $185 million and $194 million, down from its previous forecast of at least $200 million.
For the year ending Dec. 31, 2024, Real Good Foods forecast sales of at least $245 million.