Chewy Inc ( (CHWY) ) has released its Q3 earnings. Here is a breakdown of the information Chewy Inc presented to its investors.
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Chewy Inc. is a leading online retailer specializing in pet products, supplies, and prescriptions, offering a wide array of high-quality items through its website and mobile applications. The company recently released its third-quarter financial results for 2024, showcasing continued growth and financial stability.
In the latest quarter, Chewy achieved net sales of $2.88 billion, marking a 4.8% increase year over year. The company’s gross margin improved to 29.3%, and it reported a net income of $3.9 million, a significant turnaround from the loss reported in the same period last year. Adjusted EBITDA also saw a notable rise, reaching $138.2 million, indicating enhanced operational efficiency.
Key financial highlights include a net margin increase to 0.1%, with earnings per share rising to $0.01. Chewy also experienced a boost in adjusted net income, which increased by $21.5 million year over year to $84.9 million. Additionally, free cash flow surged by over 218% to $151.8 million, reflecting strong cash generation capabilities.
Looking ahead, Chewy’s management remains focused on sustaining growth and improving profitability through strategic initiatives and operational discipline. The company’s robust financial performance underscores its resilience and adaptability in the competitive online pet retail market.
