PETQ - PetIQ Non-GAAP EPS of -$0.10 misses by $0.06 revenue of $184.08M misses by $8.38M

• PetIQ press release ( NASDAQ: PETQ ): Q4 Non-GAAP EPS of -$0.10 misses by $0.06 .
• Revenue of $184.08M (-6.4% Y/Y) misses by $8.38M .
• Product segment net sales of $157.3 million and Services segment net revenues of $26.8 million
• Net sales for PetIQ’s manufactured products remained relatively consistent at 30.7% of Product segment net sales compared to 30.8%

• For the full year 2023 the Company expects:

  • Net sales of $970 million to $1,030 million vs. $979.36M consensus, an increase of approximately 9.0% compared to 2022 based on the mid-point of the guidance
  • Adjusted EBITDA of $86 million to $92 million, an increase of approximately 15.0% compared to 2022 based on the mid-point of the guidance using the Company's new methodology

• For the first quarter of 2023 the Company expects:

  • Net sales of $270 million to $290 million vs. $268.72M consensus, an increase of approximately 2.0% compared to the prior year period based on the mid-point of the guidance
  • Adjusted EBITDA of $27 million to $29 million, an increase of approximately 15.0% compared to the prior year period based on the mid-point of the guidance using the Company's new methodology

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