Chewy reports better-than-anticipated Q1 earnings, revenue; shares jump
The online pet food retailer posted earnings per share of $0.31 in the quarter, beating the consensus estimates of $0.27. Revenue came in at $2.88 billion, also above the consensus projection of $2.86 billion.
Looking ahead, Chewy projects Q2 2025 revenue to be between $2.84 billion and $2.86 billion, compared to the $2.86 billion projected by analysts. “Fiscal year 2024 is off to a solid start. We delivered strong net sales as well as record-breaking Adjusted EBITDA in the first quarter,” said Sumit Singh, CEO of Chewy.
The retailer also said that its Board of Directors has approved a share repurchase plan of up to $500 million of its Class A and/or Class B common shares.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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