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Earnings Watch

July 20, 2019, 10:35 a.m. EDT

Online pet store Chewy slightly misses first earnings after IPO

Analysts surveyed by FactSet had estimated losses of 7 cents a share on revenue of $1.12 billion

By Max A. Cherney


Reuters
Chewy second-quarter revenue estimates just above Wall Street expectations.

Chewy Inc. shares fell less than 0.1% in the extended session Thursday after the company reported its first earnings since its initial public offering just over a month ago.

Chewy slightly missed earnings and revenue expectations.

The online pet store reported first-quarter net losses of $29.6 million, or 8 cents a share, compared with losses of $51.5 million, or 15 cents a share, in the year-ago period. Revenue rose to $1.12 billion from $763.4 million in the year-ago period.

Chewy is a controlled company, operating as an independent subsidiary of PetSmart Inc.

Analysts surveyed by FactSet had estimated losses of 7 cents a share on revenue of $1.12 billion. For the second quarter, analysts model losses of 11 cents a share on sales of $1.12 billion.

The company said it expected second-quarter sales of $1.12 billion to $1.14 billion, just above Wall Street Estimates.

Chewy (NYS:CHWY)  stock was up 1.7% in premarket trade Friday. The stock has lost 12% in the past month, with the S&P 500 index (S&P:SPX)   rising 2.3%.

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