Chewy's Q3 Sales Outpace Analyst Forecasts for the Sixth Consecutive Quarter
Continuing its relative winning streak, pet supply company Chewy (NYSE: CHWY) beat analyst consensus estimates yet again with its third-quarter earnings report, bringing the total of consecutive revenue beats to six quarters. Zacks Equity Research reports Chewy's loss per share was $0.08, surpassing the $0.15 loss per share Wall Street expected for a 46.7% positive surprise. Revenue surprised positively by approximately 3.5%.
Revenue, or sales, managed to top last year's performance handsomely as well. The $1.78 billion in net sales Chewy posted is a 45% jump from Q3 2019's figure. Additionally, while the company racked up a net loss of $32.8 million for the quarter, this is still a major improvement over last year's $79 million net loss. Net margin went from negative 6.4% to negative 1.8% year over year.
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Source Fool.com
