Pet products retailer Chewy's Q2 revenue edges past estimates on recurring sales strength
Pet products retailer Chewy's Q2 revenue edges past estimates on recurring sales strength
Overview
US online pet products retailer's fiscal Q2 revenue grew 7.3%, slightly beating analyst expectations
Adjusted EPS for fiscal Q2 increased to $0.36
Company attributed results to recurring revenue base and customer growth
Outlook
Chewy raises full-year revenue and profitability outlook
Company cites recurring revenue and customer growth as drivers for improved outlook
Chewy plans to continue investing in opportunities to deepen customer engagement
Result Drivers
RECURRING REVENUE - Co said the durability of its recurring revenue base supported Q2 results
CUSTOMER GROWTH - Chewy cited continued customer growth as a driver of Q2 performance
AUTOSHIP SALES - Autoship customer sales rose 9.3% year over year and made up 84.6% of net sales
Company press release: ID:nBw97v4Sda
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Slight Beat* | $3.33 bln | $3.32 bln (23 Analysts) |
Q2 Adjusted EPS |
| $0.36 |
|
Q2 Net Income |
| $80.5 mln |
|
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 22 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the miscellaneous specialty retailers peer group is "buy"
Wall Street's median 12-month price target for Chewy Inc is $31.00, about 33.2% above its September 8 closing price of $23.27
The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 22 three months ago
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)