Chewy (CHWY) Reports Q3 Revenues Beat
Chewy (NYSE: CHWY) reported Q3 revenue for the quarter came in at $1.78 million versus the consensus estimate of $1.72 billion.
Fiscal Q3 2020 Highlights:
- Net sales of $1.78 billion grew 45 percent year-over-year
- Gross margin of 25.5 percent expanded 180 basis points year-over-year
- Net loss of $32.8 million, including share-based compensation expense of $25.1 million
- Net margin of (1.8) percent improved 460 basis points year-over-year
- Adjusted EBITDA(1) of $5.5 million improved 118 percent year-over-year
- Adjusted EBITDA margin(1) of 0.3 percent improved 280 basis points year-over-year
“Chewy’s relentless focus on execution and inventiveness resulted in record net sales and another quarter of positive adjusted EBITDA,” said Sumit Singh, Chief Executive Officer of Chewy. “Over the past few quarters, our team has been hard at work to reformat our proprietary brands and overall assortment strategy by introducing compelling merchandise, improving discoverability, and delivering a tremendous value proposition for our customers. This strategy is working to create positive, consistent, and sustainable momentum. We are also proud to take a leading role in making pet healthcare more affordable and accessible with the recent expansion of our healthcare offerings to include medicinal compounding and telehealth.”
For earnings history and earnings-related data on Chewy (CHWY) click here.