Chewy (CHWY, $80.39) beats fiscal Q4 earnings...

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Mar 31, 2021

Chewy (CHWY, $80.39) beats fiscal Q4 earnings expectations

Chewy reported earnings for its fiscal-fourth quarter that crushed analysts’ expectations. Revenue almost doubled, on the back of solid online orders.

For the quarter ended Jan. 31, the online retailer for pet-related products reported earnings of 5 cents a share, while analysts’ polled by Factset had expected an adjusted loss of -10 cents a share. The company had a loss of -15 cents a share in the year-ago period.

Revenue for the quarter surged +51.1% year-over-year to $2.04 billion, also exceeding analysts' expectations of $1.97 billion.

"Years of preparation and focus have positioned us as the Internet’s preeminent neighborhood pet store and a leading pure-play e-commerce company in the pet space," said Chief Executive Sumit Singh in a statement.

For the first quarter, Chewy is expecting revenue of $2.11 billion to $2.13 billion.

Looking ahead, the company projects $8.85 billion to $8.95 billion for the full year. The FactSet survey shows analysts’ forecast of a GAAP loss of -8 cents, or an adjusted loss of -11 cents, on revenue of $8.85 billion.

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