Petco Stock Climbs After Q2 Results
Portfolio Pulse from Erica Kollmann
Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) reported Q2 results with a loss of nine cents per share, missing estimates. Sales met expectations at $1.52 billion, a 1.99% increase year-over-year. Despite growth in consumables and services, supplies and companion animal business declined. Petco projects Q3 losses and revenue slightly below estimates. Shares rose 2.62% after-hours.
September 10, 2024 | 8:41 pm
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Petco reported a Q2 EPS loss of $0.09, missing estimates, but sales met expectations at $1.52B. Growth in consumables and services was offset by a decline in supplies. The Q3 outlook is slightly below estimates. Shares rose 2.62% after-hours.
Despite missing EPS estimates, Petco's sales met expectations, and the stock rose after-hours, indicating positive investor sentiment. The Q3 outlook is slightly below estimates, but the market reaction suggests confidence in future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100