OFRM Once Upon a Farm, PBC-37.2%Stock moveEarnings and guidance

Once Upon a Farm Stock Plunges 37% on Voluntary Recall of Tractor Wheels Product Line

The company recalled all Tractor Wheels flavors and SKUs after the FDA reported three choking incidents, and said it has not yet identified a root cause.

By Zintick Team · Editor: Kratik Mehta
Published Nov. 2, 2026, 5:10 p.m. ET

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Key points

Once Upon a Farm fell 37.1% Monday after recalling its entire Tractor Wheels product line over choking reports
The FDA reported three choking incidents; the company has not identified a root cause
Tractor Wheels accounted for about 18% of year-to-date net sales
The company had about $106 million in cash and no debt as of Sept. 30, 2026

Once Upon a Farm, PBC (NYSE: OFRM) fell 37.1% on Monday, Nov. 2, 2026, closing at $9.44 from a previous close of $15.02, while the S&P 500 ETF (SPY) moved -0.48%. The decline followed a voluntary recall of the company's Tractor Wheels product line, which the company disclosed in a 8-K filed Monday morning alongside a conference call transcript.

A recall covering every Tractor Wheels flavor

On the call, Chief Executive John Foraker said the company received a single complaint from a parent about a choking incident and that the FDA later told the company it had received three reports of choking incidents, two of them submitted directly to the FDA. The company said it is not aware of any reported injuries. It decided to recall all Tractor Wheels flavors and SKUs, though it said its investigation has not yet identified a root cause linked to the reports.

Tractor Wheels share of sales

The company said Tractor Wheels accounted for approximately 18% of total company net sales year-to-date, and that sales will be affected until shipments resume. It said it is still assessing the financial impact, including product, retailer and recall-related costs, and that it is too early to give a reliable estimate of total costs or insurance recovery.

Cash and borrowing capacity

As of Sept. 30, 2026, the company had about $106 million in cash and cash equivalents and no outstanding debt, according to the filing. It also has up to $95.0 million of borrowing capacity under existing credit facilities, subject to borrowing base limits and covenants. The company said it will report full third-quarter results on Nov. 12, 2026, after the market close.

The company did not say when Tractor Wheels would return to shelves.