PetMed Express (PETS) Reports In-Line Q3 EPS, Revenues Beat

PetMed Express (NASDAQ: PETS) reported Q3 EPS of $0.38, in-line with the analyst estimate of $0.38. Revenue for the quarter came in at $65.9 million versus the consensus estimate of $63.81 million.

Menderes Akdag, CEO and President, commented: “We were pleased with the Company’s performance during the quarter and throughout 2020, where we have seen both double digit top and bottom line growth. Strong reorder sales and increasing gross and operating margins during the quarter contributed to our success. Our reorder growth for the three and nine months ended on December 31, 2020 was likely energized by the increased use of loyalty credits by our customers through our Loyalty Program, which was launched in September 2019, and by our Easy Refill Program. Our average order size increased from $85 to $88 for the quarters ended December 31, 2019 and 2020, respectively. In the beginning of 2021 we unveiled a new logo to commemorate the Company’s 25th anniversary. The inspiration for this new logo and brand identity came mostly from consumer feedback. We embraced the opportunity to refresh our logo and brand to best represent both pet health and wellness on our new website platform. In the next fiscal year, we will be exploring alternative ways of acquiring new customers and adding value-added services, and we will continue investing in our e-commerce platform and mobile app to optimize our customers’ digital experience.”

For earnings history and earnings-related data on PetMed Express (PETS) click here.

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