CHWY - Chewy's Q1: A Game-Changing Quarter (Rating Upgrade)
2024-06-07 11:53:04 ET
Summary
- Chewy reported better-than-expected earnings for Q1, achieving the highest amount of adjusted EBITDA in its history.
- The company started rolling out Chewy-branded veterinary clinics and saw double-digit growth in net revenue per active customer.
- Chewy announced a $500M stock buyback, and shares have revaluation potential.
- Shares remain attractively valued with a price-to-earnings ratio of 23X.
Online pet store Chewy (CHWY) reported better than expected earnings for the first fiscal quarter, with the company achieving the highest amount of adjusted EBITDA ever in its history. Chewy also started rolling out four of its Chewy-branded veterinary clinics, reported double-digit growth in one of its most important KPIs -- net revenue per active customer -- and announced a $500M stock buyback. Shares soared after earnings, but continue to have revaluation potential, in my opinion, as the company has attractive long term EPS growth prospects in its niche!...
Chewy's Q1: A Game-Changing Quarter (Rating Upgrade)