Why Is Pet Care Focused Petco Stock Trading Higher On Wednesday?
Portfolio Pulse from Vandana Singh
Petco Health and Wellness Company Inc. (NASDAQ:WOOF) reported first-quarter net revenue of $1.53 billion, slightly down year over year but in line with expectations. Despite a decline in comparable sales and an adjusted loss, the stock surged 29.20% due to better-than-expected EPS and positive guidance.
May 22, 2024 | 1:51 pm
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Petco Health and Wellness Company Inc. reported Q1 net revenue of $1.53 billion, down 1.7% YoY but in line with expectations. Despite a decline in comparable sales and an adjusted loss, the stock surged 29.20% due to better-than-expected EPS and positive guidance.
The stock price surged 29.20% due to better-than-expected EPS and positive guidance, despite a slight decline in revenue and an adjusted loss. This indicates strong investor confidence in the company's future performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100