Chewy Inc

Latest Results (24.12.2024):

Net Sales Growth

Chewy Inc. reported net sales of $2.88 billion for the third quarter of fiscal year 2024, marking a 4.8 percent increase compared to the same period last year. This growth reflects the company's ability to exceed the high-end of its net sales guidance range, driven by a sequential increase in active customers.

Improved Gross Margin

In the third quarter of 2024, Chewy Inc. achieved a gross margin of 29.3 percent, which represents an increase of 80 basis points year over year. This improvement underscores the company's focus on high-quality execution and operational discipline, contributing to its overall financial performance.

Net Income and Earnings Per Share

Chewy Inc. reported a net income of $3.9 million for Q3 2024, which includes share-based compensation expense and related taxes of $80.4 million. The net margin increased by 140 basis points year over year, and the basic and diluted earnings per share rose to $0.01, an increase of $0.09 compared to the previous year.

Adjusted EBITDA and Margin Expansion

The company's adjusted EBITDA for the third quarter of 2024 was $138.2 million, reflecting an increase of $55.7 million year over year. The adjusted EBITDA margin also expanded by 180 basis points to 4.8 percent, highlighting Chewy Inc.'s robust free cash flow generation and durable business model.

Positive Outlook

Chewy Inc.'s CEO, Sumit Singh, emphasized the positive momentum observed in Q3 2024, building on the results from Q2. The company continues to focus on delivering topline growth, expanding its customer base, and enhancing its operational efficiency, which positions it well for future success in the competitive pet products market.