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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

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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 /zigman2/quotes/212690528/composite CHWY -2.74%  stock was up 1.7% in premarket trade Friday. The stock has lost 12% in the past month, with the S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.03%   rising 2.3%.

/zigman2/quotes/212690528/composite
US : U.S.: NYSE
$ 22.76
-0.64 -2.74%
Volume: 559,722
Nov. 18, 2019 11:30a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$9.33 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
3,119.53
-0.93 -0.03%
Volume: 556.31M
Nov. 18, 2019 11:30a
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Max A. Cherney is a MarketWatch reporter based in San Francisco. Follow him on Twitter @chernandburn.

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