CHEWY Reports Second Quarter Earnings Results for FY2024
September 2, 2023
🌥️Earnings Overview
On August 30 2023, CHEWY ($NYSE:CHWY) reported its earnings results for the second quarter of FY2024, ending July 31 2023. The total revenue for the period was USD 2777.8 million, a 14.3% increase from the same quarter of the previous year. Unfortunately, net income decreased by 15.2% year-over-year, coming in at USD 19.0 million.
Price History
The stock opened at $27.5 and closed at $27.3, representing a slight 0.2% increase from its last closing price of 27.3. This growth was attributed to strong customer growth as well as higher order frequency from existing customers. Looking ahead, CHEWY expects to continue its strong performance for the remainder of this year and beyond as it gains traction in the pet-care industry.
The company’s CEO, Ryan Cohen, commented on the results: “We are pleased to report another quarter of strong financial results, reflecting the continued success of our unique customer-first approach to pet care. Our results demonstrate the power of our model and reinforce our leadership position in the pet care industry.” Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Chewy. More…
| Total Revenues | Net Income | Net Margin |
| 10.8k | 49.54 | 0.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Chewy. More…
| Operations | Investing | Financing |
| 525.12 | -662.22 | -12.59 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Chewy. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.9k | 2.54k | 0.85 |
Key Ratios Snapshot
Some of the financial key ratios for Chewy are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 22.3% | – | 0.5% |
| FCF Margin | ROE | ROA |
| 3.1% | 11.4% | 1.3% |
Analysis
At GoodWhale, we have conducted an analysis of CHEWY‘s financials to help our users make informed investment decisions. Our Risk Rating has found that CHEWY is a medium risk investment in terms of financial and business aspects. After further examination of the company’s cashflow statement, we have detected 1 risk warning for CHEWY. To find out what this risk warning is, you need to become a registered user of GoodWhale. Our ratings are designed to provide our users with the most up to date information to help them make informed decisions about their investments. More…
Peers
The Chewy Inc and its competitors are Amazon.com Inc, Wayfair Inc, Meituan, Walmart Inc, and Alibaba Group. These companies compete with each other in terms of product offerings, prices, and delivery times. Chewy Inc has an edge over its competitors because it offers a wide range of products, competitive prices, and fast delivery times.
– Amazon.com Inc ($NASDAQ:AMZN)
Amazon.com, Inc. is an American multinational technology company based in Seattle, Washington, that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. It is one of the Big Four tech companies, along with Google, Apple, and Facebook.
As of 2022, Amazon has a market cap of 1.17T and a ROE of 6.04%. Amazon is a leading player in the e-commerce and cloud computing markets. The company has also been investing heavily in digital streaming and artificial intelligence.
– Wayfair Inc ($NYSE:W)
As of 2022, Wayfair Inc has a market cap of 3.42B and a Return on Equity of 29.2%. The company operates an online store that offers a variety of home goods, including furniture, décor, and housewares. Wayfair is headquartered in Boston, Massachusetts, and was founded in 2002.
– Meituan ($SEHK:03690)
Meituan is a Chinese e-commerce platform that offers on-demand services, including food delivery, hotel booking, and ticketing. The company has a market cap of 871.38B as of 2022 and a return on equity of -10.45%. Meituan was founded in 2010 and is headquartered in Beijing, China.
Summary
Despite this, net income was reported to be $19 million, a decrease of 15.2% from the same period a year ago. Investors should consider CHEWY‘s strong revenue growth positively, as well as the company’s strategic investments in its fulfillment centers and product assortment. Going forward, investors will be looking for CHEWY to continue growing its revenue while also improving its profitability.
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