Benzinga - by Chris Katje, Benzinga Staff Writer.
Pet care e-commerce company Chewy Inc (NYSE:CHWY) reported fourth-quarter financial results after the market close Wednesday.
Here are the key highlights from the report.
Chewy’s Q4 Earnings: Chewy reported fourth-quarter net sales of $2.83 billion, up 4.2% year-over-year. The total beat a Street consensus estimate of $2.79 billion, according to data from Benzinga Pro.
The company reported adjusted earnings per share of 18 cents for the fourth quarter, which beat a Street consensus estimate of a loss of 4 cents per share.
For the full fiscal year, net sales were $11.15 billion, up 10.2% year-over-year.
"I am proud of the performance the team delivered to close out a strong fourth quarter and full year. In 2023, we gained market share while simultaneously expanding margins and accelerating free cash flow generation," Chewy CEO Sumit Singh said.
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What's Next For Chewy: Chewy said it sees first-quarter revenue coming in a range of $2.84 billion to $2.86 billion. The company is guiding for full year fiscal 2024 revenue to be in a range of $11.6 billion to $11.8 billion, which is ahead of Street consensus estimates of $11.12 billion.
"As we embark on 2024, we remain committed to further expanding our margins and generating meaningful free cash flow for our shareholders," Singh said. "Furthermore, we are excited about the strategic opportunities ahead and our role in continuing to drive innovation across the pet category."
CHWY Price Action: Chewy shares are up 6% to $18.56 in after-hours trading Wednesday versus a 52-week trading range of $15.78 to $40.78.
Read Next: Chewy Analyst Says Stock A ‘Tail-Wagging Opportunity’
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