Chewy Stock Goes To The Dogs After Mixed Q3 Earnings Report: Here's Why

Benzinga2023-12-07

Chewy, Inc. (NYSE: CHWY) shares are trading lower in Wednesday's after-hours session on the heels of the company's third-quarter earnings.

What To Know: Chewy reported quarterly adjusted earnings of 15 cents per share which topped the analyst consensus estimate of a loss of six cents. The figure represents a 36.36% increase over earnings of 11 cents per share from the same period last year.

The company reported quarterly sales of $2.74 billion, missing analyst expectations of $2.76 billion, a 8.21% increase over sales of $2.53 billion from the same period last year.

Additionally, Adjusted EBITDA of $82.1 million represents an increase of $11.7 million compared to the same period last year.

Chewy sees fourth-quarter net sales of between $2.78 billion and $2.80 billion. The company also lowered its full-year 2023 net sales forecast from between $11.15 billion and $11.35 billion to between $11.08 billion and $11.10 billion.

"Chewy continues to gain market share, with third-quarter net sales increasing 8% against industry growth in the low single digits," said Sumit Singh, CEO of Chewy. "Our team also continues to execute admirably, as reflected by another strong quarter of 28.5% gross margin and 3.0% adjusted EBITDA margin profitability."

It is also worth noting that the company announced after hours that David Reeder was appointed CFO, effective Feb. 14.

CHWY Price Action: Shares of CHWY were down over 10% in the after-hours session.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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The company also lowered its full-year 2023 net sales forecast from between $11.15 billion and $11.35 billion to between $11.08 billion and $11.10 billion.</p><p>&#34;Chewy continues to gain market share, with third-quarter net sales increasing 8% against industry growth in the low single digits,&#34; said <strong>Sumit Singh</strong>, CEO of Chewy. &#34;Our team also continues to execute admirably, as reflected by another strong quarter of 28.5% gross margin and 3.0% adjusted EBITDA margin profitability.&#34;</p><p>It is also worth noting that the company announced after hours that <strong>David Reeder</strong> was appointed CFO, effective Feb. 14.</p><p><strong>CHWY Price Action: </strong>Shares of CHWY were down over 10% in the after-hours session. </p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7204b3d2b79c6806df9d2220b03a7875\" tg-width=\"611\" tg-height=\"613\"/></p><p></p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chewy Stock Goes To The Dogs After Mixed Q3 Earnings Report: Here's Why</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChewy Stock Goes To The Dogs After Mixed Q3 Earnings Report: Here's Why\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-12-07 09:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/earnings/23/12/36123059/chewy-stock-goes-to-the-dogs-after-mixed-q3-earnings-report-heres-why><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chewy, Inc. (NYSE: CHWY) shares are trading lower in Wednesday's after-hours session on the heels of the company's third-quarter earnings.What To Know: Chewy reported quarterly adjusted earnings of 15...</p>\n\n<a href=\"https://www.benzinga.com/news/earnings/23/12/36123059/chewy-stock-goes-to-the-dogs-after-mixed-q3-earnings-report-heres-why\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CHWY","symbol_name":"Chewy, Inc.","start_time":0,"source_url":"https://www.benzinga.com/news/earnings/23/12/36123059/chewy-stock-goes-to-the-dogs-after-mixed-q3-earnings-report-heres-why","article_id":"2389061244","we_media_id":"1052270027","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2389061244","pubTimestamp":1701911950,"sourceInfo":null,"weMediaInfo":{"media_name":"Benzinga","introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"summary":"$Chewy, Inc.(CHWY)$ (NYSE: CHWY) shares are trading lower in Wednesday's after-hours session on the heels of the company's third-quarter earnings.What To Know: Chewy reported quarterly adjusted earnin","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"CHWY":"Chewy, Inc."},"translate_title":"耐嚼股票在喜忧参半的第三季度收益报告后走下坡路：原因如下","themeId":"c0d77e622a6742cf8335299f8317b4b4","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CHWY":0.9},"content_text":"Chewy, Inc. 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