Chewy (NYSE:CHWY) earnings for the pet products retailer’s fiscal first quarter of 2020 have CHWY stock dipping lower after markets closed on Tuesday. That’s despite its adjusted losses per share of 1 cent coming in above Wall Street’s estimate for a loss of 16 cents. Its revenue of $1.62 billion also beats analysts’ estimates of $1.53 billion.
Here’s what else is worth mentioning from the most recent Chewy earnings report.
- Adjusted per-share losses are 83.3% better than the 6-cent loss from the fiscal first quarter of 2019.
- Revenue is sitting 46% higher than the $1.11 billion reported during the same time last year.
- Operating loss of $47.49 million is 56.9% wider year-over-year than a loss of $30.27 million.
- The Chewy earnings report also includes a net loss of $47.87 million.
- That’s 62% worse than the company’s net loss of $29.55 million from the same period of the year prior.
Sumit Singh, CEO of Chewy, said this about the current earnings.
“We had a strong start to 2020 with first quarter net sales increasing 46 percent year-over-year and gross margins expanding 50 basis points. We also achieved a significant milestone by delivering our first ever quarter of positive adjusted EBITDA.”
Chewy offers guidance for fiscal 2020 in its earnings report. This has it expecting revenue for the year to range from $6.55 billion to $6.65 billion. For comparison, Wall Street is expecting revenue to come in at $6.41 billion.
CHWY stock was down 2.7% after-hours Tuesday but was up 5.6% when markets closed.
As of this writing, William White did not hold a position in any of the aforementioned securities.
