Chewy posted earnings that surpass analysts’ expectations for the fiscal first quarter.
For the quarter ended May 2, the online pet retail company’s revenue rose +32% year-over-year to $2.14 billion, compared to the Street consensus forecast of $2.13 billion.
Net income came in at 9 cents a share, beating the Street estimate of a loss of -3 cents a share.
According to Chewy, it now has 19.8 million active customers, which is +32% higher from a year ago. Net sales per active customer over the past 12 months was $388, up +8.7% from a year ago.
For the fiscal second quarter, Chewy expects revenue in the range of $2.15 billion to $2.17 billion, up 26% to 28%, compared to analysts’ projection of $2.13 billion.
For the January 2022 fiscal year, Chewy projects revenue of $8.9 billion to $9 billion (vs. prior guidance of $8.85 billion to $8.95 billion). Analysts’ forecast is $8.95 billion.
The company expects its full-year adjusted EBITDA margin expanding 80 to 120 basis points from fiscal 2021.