Petco Health and Wellness Company Inc

Latest Results (07.08.2024):

Net Revenue

In the first quarter of 2024, Petco Health and Wellness Company Inc. reported net revenue of $1.5 billion, which represents a decrease of 1.7 percent compared to the same period in the previous year. The decline was primarily driven by a 6.8 percent drop in the supplies and companion animal business, despite a 0.1 percent increase in the consumables business and a 4.2 percent rise in services and other business.

GAAP Net Loss

Petco Health and Wellness Company Inc. experienced a GAAP net loss of $46.5 million, or $(0.17) per share, in the first quarter of 2024. This is a significant increase from the GAAP net loss of $1.9 million, or $(0.01) per share, reported in the same quarter of the previous year.

Adjusted Net Income

For the first quarter of 2024, Petco Health and Wellness Company Inc. reported an Adjusted Net Income of $(11.8) million, or $(0.04) per share. This is a decline from the Adjusted Net Income of $14.9 million, or $0.06 per share, recorded in the first quarter of the previous year.

Adjusted EBITDA

Petco Health and Wellness Company Inc.'s Adjusted EBITDA for the first quarter of 2024 was $75.6 million, down from $111.0 million in the same period last year. The decrease reflects the challenges faced by the company in maintaining profitability amidst a competitive market environment.

Operating Cash Flow

In the first quarter of 2024, Petco Health and Wellness Company Inc. reported an operating cash flow of $(8.4) million, compared to $37.7 million in the prior year. The negative cash flow indicates the financial pressures the company is facing as it works to reposition its business for sustainable growth.