Recap: Petco Health and Wellness Q3 Earnings
Portfolio Pulse from Benzinga Insights
Petco Health and Wellness (NASDAQ:WOOF) reported Q3 earnings with an EPS of $-0.05, significantly missing the estimated $0.02. Revenue also declined by $7 million compared to the same period last year. Despite a previous quarter's EPS miss resulting in a share price increase, the current substantial miss could negatively impact investor sentiment.
November 29, 2023 | 12:05 pm
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NEGATIVE IMPACT
Petco Health and Wellness reported a significant miss in Q3 earnings with an EPS of $-0.05 against an expected $0.02, and a revenue decrease from the previous year. This could lead to negative investor sentiment and a potential drop in stock price.
The substantial earnings miss by Petco Health and Wellness is likely to be taken negatively by the market, especially given the magnitude of the miss (350%) and the year-over-year revenue decline. Historically, earnings misses can lead to stock price declines, although the company's stock price did increase after the last earnings miss. However, the severity of this miss may outweigh the previous trend.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100