Chewy Q4 Earnings Highlights: Pet Retailer Notches Revenue, EPS Beat, CEO Targets Margin Expansion
Portfolio Pulse from Chris Katje
Chewy Inc (NYSE:CHWY) reported Q4 net sales of $2.83 billion, a 4.2% increase year-over-year, surpassing the consensus estimate of $2.79 billion. Adjusted EPS was 18 cents, beating the expected loss of 4 cents per share. Full-year sales were $11.15 billion, up 10.2%. CEO Sumit Singh highlighted market share gains, margin expansion, and accelerated free cash flow. For Q1, revenue is expected between $2.84 billion and $2.86 billion, with fiscal 2024 projections of $11.6 to $11.8 billion, above consensus estimates of $11.12 billion. After the announcement, CHWY shares rose 6% in after-hours trading.
March 20, 2024 | 8:33 pm
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Chewy Inc reported higher than expected Q4 sales and EPS, with positive guidance for Q1 and fiscal 2024, leading to a 6% increase in after-hours trading.
Chewy's Q4 earnings report exceeded Wall Street expectations on both revenue and EPS, indicating strong financial health and operational efficiency. The company's positive guidance for the upcoming quarter and fiscal year suggests continued growth and profitability, which typically results in positive investor sentiment and could drive the stock price higher in the short term.
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