December 8, 2023
Chewy Announces Third Quarter 2023 Financial Results
Chewy, Inc., a trusted destination for pet parents and partners everywhere, has released its financial results for the third quarter of fiscal year 2023 ended Oct. 29, 2023 and posted a letter to its shareholders on its investor relations website at Chewy.
Fiscal Q3 2023 Highlights:
- Net sales of $2.74 billion improved 8.2 percent year over year
- Gross margin of 28.5 percent increased 10 basis points year over year
- Net loss of $35.8 million, including share-based compensation expense and related taxes of $65.8 million
- Net margin of (1.3) percent decreased 140 basis points year over year
- Basic and diluted loss per share of $0.08, a decrease of $0.09 year over year
- Adjusted EBITDA(1) of $82.1 million, an increase of $11.7 million year over year
- Adjusted EBITDA margin(1) of 3 percent increased 20 basis points year over year
- Adjusted net income(1) of $63 million, an increase of $14.6 million year over year
- Adjusted basic and diluted earnings per share(1) of $0.15, an increase of $0.04 year over year
“Chewy continues to gain market share, with third quarter net sales increasing 8 percent against industry growth in the low single digits,” said Sumit Singh, Chief Executive Officer of Chewy. “Our team also continues to execute admirably, as reflected by another strong quarter of 28.5 percent gross margin and 3 percent adjusted EBITDA margin profitability.”
Management will host a conference call and webcast to discuss Chewy’s financial results today at 5 pm ET.
Chewy Fiscal Third Quarter 2023 Financial Results Conference Call
When: Wednesday, Dec. 6, 2023
Time: 5 pm ET
Conference ID: 528484
Live Call: 1-844-200-6205 (US Toll-Free), 1-646-904-5544 (US and all other locations)
Replay: 1-866-813-9403 (US Toll-Free), 1-929-458-6194 (US and all other locations)
Replay Access Code: 798952
(The replay will be available approximately two hours after the completion of the live call until 11:59 pm PT on Dec. 13, 2023)
Webcast: Chewy.com
As a reminder, Chewy will hold its Inaugural Investor Day on Thursday, Dec. 14, 2023, at 8 am ET in New York City. During the event, Chewy’s leadership team will provide updates on the company’s long-term strategy, followed by Q&A.
A link to a live webcast is available on Chewy’s investor relations website at Chewy. Following the conclusion of the event, a replay and presentation materials will be available for at least 90 days.
For more information, visit the company’s official press release.