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Chewy Posts Q1 Revenue Beat as Adjusted EPS Matches Wall Street but GAAP EPS Lags

The results show steady sales growth and put focus on adjusted profit measures that strip out stock comp and other one-time items

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Overview

  • Chewy, which reported results on Wednesday, posted $3.36 billion in fiscal Q1 revenue that slightly exceeded the Zacks consensus of $3.35 billion.
  • The company reported GAAP net income of $94.8 million and GAAP earnings of $0.23 per share for the quarter.
  • Chewy's adjusted earnings were $0.43 per share, which matched Zacks' average analyst estimate and excludes items such as share-based compensation and nonrecurring costs.
  • Pre-report analyst lines varied, with Benzinga citing a $0.28 EPS estimate and $3.37 billion revenue consensus, a difference that helps explain why some coverage framed the results as mixed.
  • The revenue beat continues a run of stronger sales performance for Chewy and could keep investor attention on profitable growth and cash flow as management presents more detail on the quarter.