Wall Street expects a year-over-year decline in earnings on higher revenues when Chewy (CHWY) reports results for the quarter ended July 2020. The key revenue drivers in the quarter were a 37.9% year-over-year increase in active customers and a 3.2% increase in net sales per active customer. Copyright 2020 Zacks Investment Research | 10 S Riverside Plaza Suite #1600 | Chicago, IL 60606. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.53% per year. Privacy Policy | No cost, no obligation to buy anything ever. The company’s loss narrowed to 8 cents per share in Q2 from $0.21 in the prior-year quarter. Chewy’s earnings report also has net loss coming in at $32.82 million. Pet products supplier Chewy (NYSE: CHWY) surpassed bottom and topline estimates for the second quarter of 2020. Net revenues fell 10% year-over-year to $2.4 billion. Nasdaq Chewy shares have added about 112.1% since the beginning of the year versus the S&P 500's gain of 5.2%. The Man Who Recommended 23 1,000% Winners Is Revealing His #1 Stock for 2020. Let’s take a deeper dive into the most recent Chewy earnings report below. In terms of the Zacks Industry Rank, Consumer Products - Staples is currently in the top 47% of the 250 plus Zacks industries. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. Delayed quotes by Sungard. Share: Chewy (NYSE: CHWY) reported Q2 sales of $1.70 billion. If you experience any issues with … Chewy Earnings: CHWY Stock Dips 1% Despite Beating Q2 Estimates CHWY EPS and revenue beat estimates By William White , InvestorPlace Writer Sep 10, 2020, 5:21 pm EDT September 10, 2020 Operating loss of $32.3 million is a 61.2% improvement year-over-year from $83.1 million. This quarterly report represents an earnings surprise of 46.67%. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. ZacksTrade and Zacks.com are separate companies. The company now expects FY20 sales to be between $6.775 billion and $6.825 billion compared to the previous sales outlook of $6.55 billion to $6.65 billion. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Zacks Ranks stocks can, and often do, change throughout the month. Diluted per-share losses are 61.9% better than the -21 cents reported in the same period of the year prior. 1125 N. Charles St, Baltimore, MD 21201. The company’s loss narrowed to 8 cents per share in Q2 from $0.21 in the prior-year quarter. All rights reserved. CHWY stock was up about 2% in the extended trading hours. The top-line, The Charles Schwab Corporation (NYSE: SCHW) reported third quarter 2020 earnings results today. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. Infographic: Chewy (CHWY) Q2 2020 earnings in a nutshell. All rights reserved. A recent pick, Maxar, skyrocketed +178.7% in 3 months. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. If you wish to go to ZacksTrade, click OK. Ahead of this earnings release, the estimate revisions trend for Chewy was favorable. Looking forward to read what management and analysts discuss on quarterly results? For 32 years, our Strong Buy list has averaged returns more than twice the market. Each of the company logos represented herein are trademarks of Verizon Media; Microsoft Corporation; Nasdaq, Inc.; Dow Jones & Company; Forbes Media, LLC; Investor's Business Daily, Inc.; and Morningstar, Inc. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. For fiscal 2020, Chewy lifted its previously announced sales guidance. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Source: designs by Jack / Shutterstock.com, Chewy Earnings: CHWY Stock Dips 1% Despite Beating Q2 Estimates, 7 Cheap Stocks Under $1 That Deserve A Second Look, Louis Navellier and the InvestorPlace Research Staff, 4 Semiconductor Stocks Making the Guts of Everything Electronic, Trump vs. Biden: Stocks to Buy No Matter Who Wins the White House, New Allegations Make Workhorse Even More Unappealing, 5 Nanotech Stocks to Buy for Huge Innovation, Get Ready To Bull Trade Novavax Stock For A Second Wave, 7 Dividend Stocks To Buy For Adventurous Investors, Pricey Plug Power Stock Could Keep Moving Higher, or Attract a Buyer. The upcoming earnings date is derived from an algorithm based on a company's historical reporting dates. Copyright © Do the numbers hold clues to what lies ahead for the stock? On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. Wells Fargo earnings fall short of estimates as low rates hit interest income Published Wed, Oct 14 2020 7:56 AM EDT Updated Wed, Oct 14 2020 8:37 AM EDT Fred Imbert @foimbert Zacks Equity Research GAAP net income dropped 27% to $698 million while, © 2020 AlphaStreet Inc. All Rights Reserved, Earnings: United Airlines (UAL) posts wider-than-expected Q3 loss; stock drops, BNY Mellon (BK) Earnings: Key financials and quarterly highlights, Earnings: Intuitive Surgical (ISRG) Q3 results exceed estimates, How Charles Schwab (SCHW) performed in Q3 financial results. Sales rose 47% to $1.7 billion. At Chewy, Inc., we promise to treat your data with respect and will not share your information with any third party. The monthly returns are then compounded to arrive at the annual return. Visit performance for information about the performance numbers displayed above. Sumit Singh, CEO of Chewy, said this in the earnings report. CHWY stock was down 1.4% after-hours Thursday and ended normal trading hours down 2.9%.
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