Chewy Inc (NYSE: CHWY) shares are trading lower in Tuesday's after-hours session after the company reported topline results that came in below analyst estimates.
Chewy said second-quarter revenue increased 12.8% year-over-year to $2.43 billion, which missed average analyst estimates of $2.48 billion, according to Benzinga Pro. The company reported second-quarter net income of $22.3 million on gross margins of 28.1%. Adjusted EBITDA totaled $83.1 million in the second quarter.
"We believe our superior customer value proposition, strength in resilient demand categories such as food and healthcare, and the recurring nature of our Autoship business enabled us to continue taking market share and extend our leadership position in the recession-resistant pet category," said Sumit Singh, CEO of Chewy.
Management will host a conference call to discuss Chewy's financial results Tuesday at 5 p.m. ET.
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CHWY Price Action: Chewy has a 52-week high of $60.51 and a 52-week low of $22.22.
The stock was down 8.56% in after hours at $34.19 at press time.
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