© Reuters Chewy shares drop 3% despite better than expected Q4 results
By Davit Kirakosyan
Chewy (NYSE:) shares fell nearly 3% after-hours despite the company better-than-expected Q4 results, with EPS of $0.16 coming in better than the consensus estimate of ($0.11).
Revenue grew 13.4% year-over-year to $2.71 billion, beating the consensus estimate of $2.64B. The company ended the quarter with 20.4 million active customers. Net sales per active customer increased 15.1% year-over-year to $495.
Additionally, its Autoship customer sales grew 17.5% year-over-year and generated 73.3% of the company’s Q4 net sales, representing a 260 basis point increase over the prior year period.
Q4 gross margin expanded 270 basis points to 28.1%, driven by favorable pricing comps relative to Q4/21, and to a lesser degree, by the company’s ongoing supply chain transformation.
“Our fourth quarter and full year fiscal 2022 results cap an incredible year. Against the backdrop of a rapidly changing operating and economic environment, Chewy produced record-high revenue, profitability, and free cash flow,” said Sumit Singh, CEO of Chewy
