PetMed Express (NASDAQ:PETS) earnings for the pet pharmacy’s fiscal second quarter of 2019 have PETS stock taking off on Monday. This comes from its per-share earnings of 33 cents. That easily beats out Wall Street’s estimate of 26 cents for the period. The company’s revenue of $69.94 million also comes in above analysts’ estimate of $69.65 million for the quarter.
Now let’s dive further into the PetMed Express earnings report for fiscal Q2 2019.
- Per-share earnings for the quarter are down 37.74% YoY from 53 cents.
- Revenue for the quarter is 2.05% lower than 71.40 million in the same period of the year prior.
- Operating income of $8.37 million is a 36.59% drop from $13.20 million in its fiscal second quarter of 2018.
- The PetMed Express earnings report also includes a net income of $6.67 billion.
- This is a 37.95% decrease from its net income of $10.75 million from the same time last year.
- Gross margin saw a sequential increase of 130 basis points to 28.6% in the current quarter.
Menderes Akdag, CEO and President of PetMed Express, says this about the PETS earnings report.
“The gross margin increase can be attributed to our success in obtaining direct purchasing relationships with the major manufacturers, and the implementation of the minimum advertised price (MAP) policy by some of the major manufacturers.”
PetMed Express also announced a quarterly dividend in its fiscal Q2 2019 earnings report. This nets investors in PETS stock 27 cents per share. The dividend is payable Nov. 15, 2019, to investors on record as of Nov. 4, 2019.
PETS stock was up 36.68% as of Monday afternoon. This erases its losses since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.