PetSmart (PETM) Tops Q3 EPS by 8c, Offers Q4 Guidance, FY15 Comps Seen in Low-Single Digits

(Updated - November 18, 2014 5:19 PM EST)

PetSmart (NASDAQ: PETM) reported Q3 EPS of $1.02, $0.08 better than the analyst estimate of $0.94. Revenue for the quarter came in at $1.7 billion versus the consensus estimate of $1.73 billion. Comps were flat.

PetSmart sees Q4 2014 EPS of $1.34-$1.38, versus the consensus of $1.37. It sees comparable store sales growth slightly positive.

2015 Guidance

For fiscal year 2015, the company expects to deliver comparable store sales growth in the low-single digits. GAAP earnings before tax growth is expected to be in the mid-teens, with meaningful gross margin and OG&A cost leverage, driven by the profit improvement program. One-time costs associated with the profit improvement program are expected to be approximately $6 million. The company intends to provide further guidance for fiscal 2015 when it releases fourth quarter 2014 results.

For earnings history and earnings-related data on PetSmart (PETM) click here.

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