Chewy (NYSE:CHWY) earnings for the pet food company’s third quarter of 2019 have CHWY stock on the move Monday. This comes after reporting adjusted per-share losses of -20 cents. That’s worse than Wall Street’s estimate of -16 cents. Revenue of $1.23 billion is better than analysts’ estimates of $1.20 billion but can’t hold CHWY stock up on its own.
Here’s what else is worth mentioning from the current Chewy earnings report.
- Adjusted losses per share haven’t changed from the same time last year.
- Revenue is up 40.47% from $875.63 million in the third quarter of 2018.
- Loss from operations of -$78.78 million is largely unchanged from the same period of the year prior.
- The same also holds true for the net loss of -$79.00 million in the most recent Chewy earnings report.
Sumit Singh, CEO of Chewy, has this to say about the CHWY stock earnings report for Q3 2019.
“We are pleased to report strong third quarter 2019 results with net sales growing 40 percent year-overyear and gross margin increasing 410 basis points over the same period as the team continues to execute against our strategy of long-term, sustainable growth and margin expansion.We remain focused on delivering product innovation and technology that
makes finding and buying the right product easy, convenient, and enjoyable.”
CHWY stock was down .87% in after-hours trading on Monday. It also closed out the day down 3.09%.
As of this writing, William White did not hold a position in any of the aforementioned securities.
