Chewy reports Q1 results that narrowly beat estimates
Chewy shares whipsawed in premarket trading after the online pet retailer reported Q1 results that slightly surpassed earnings expectations and narrowly beat revenue estimates.
Key numbers:
Net sales of $3.36 billion (compared to analyst estimates of $3.35 billion).
Adjusted earnings per share of $0.43 (estimate: $0.41).
Just a few weeks ago, Chewy CEO Sumit Singh, while speaking at the JPMorgan Technology, Media & Communications Conference in late May, said that US consumers appear more financially stretched than they were at the start of 2026, Barron’s reported.
“Our first quarter results demonstrate the resilience of our business model and the strength of our execution, despite a more dynamic consumer backdrop,” Singh said in a statement.
Chewy did not issue a forward guidance update or a revised full-year outlook in its initial press release. Its stock has dropped roughly 39% year to date.
The company’s adjusted EBITDA rose 31.3% to $253.1 million. Gross margin improved 50 basis points year over year to 30.1%.
Chewy added nearly 200,000 net active customers in the quarter, expanding its total active user base to 21.5 million customers, a 3.6% year-over-year increase.
