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Chewy Earnings: CHWY Stock Dips 1% Despite Beating Q2 Estimates

Chewy (NYSE:CHWY) earnings for the online retailer of pet product’s second quarter of 2020 have CHWY stock falling after-hours Thursday. That’s despite it reporting diluted losses per share of 8 cents, which is better than Wall Street’s estimate of 16 cents. Its revenue of $1.7 billion also comes in above analysts’ estimates of $1.69 billion.

Image of a Chewy (CHWY) branded delivery box in the middle of a well-lit living room.

Source: designs by Jack / Shutterstock.com

Let’s take a deeper dive into the most recent Chewy earnings report below.

  • Diluted per-share losses are 61.9% better than the -21 cents reported in the same period of the year prior.
  • Revenue for the quarter comes in 47% higher than the $1.15 billion reported in the second quarter of 2019.
  • Operating loss of $32.3 million is a 61.2% improvement year-over-year from $83.1 million.
  • Chewy’s earnings report also has net loss coming in at $32.82 million.
  • That’s a 60.4% narrower net loss than the $82.88 million reported during the same time last year.

Sumit Singh, CEO of Chewy, said this in the earnings report.

“Chewy’s advantageous positioning in the pet industry’s race towards e-commerce, our culture of innovation, and our singular focus on customer experience resulted in another quarter of outperformance. We are proud of our teams, who continued to execute under difficult, pandemic-related circumstances, while again setting new records for both net sales growth and new customer additions, and producing our second consecutive quarter of positive adjusted EBITDA.”

Chewy doesn’t include guidance in its current earnings report. Many companies are withholding outlooks at this time due to the novel coronavirus making markets unpredictable.

CHWY stock was down 1.4% after-hours Thursday and ended normal trading hours down 2.9%.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2020/09/chewy-earnings-tick-chwy-stock-lower/.

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