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Petco reported first-quarter results Tuesday that showed a return to positive comparable sales growth but a wider net loss than the same period a year ago, sending Petco stock lower after the report.
The company posted net sales of $1.5 billion for the quarter ended May 2, up 0.2% from a year earlier, with comparable sales rising 0.7%. Petco recorded a net loss of $15.1 million, compared with a net loss of $11.7 million in the first quarter of 2025.
On an adjusted basis, the company earned $0.01 per share, topping the Zacks consensus estimate, which had called for a loss of $0.02 per share, according to Yahoo Finance. The quarter's $1.5 billion in revenue came in 0.66% above the Zacks consensus estimate. However, Investing.com reported the company missed earnings estimates by $0.06.
At the gross level, profit reached $574.4 million as margin widened by 21 basis points to 38.4%. A 50.5% jump in operating income brought that figure to $24.6 million. Adjusted EBITDA of $97.3 million represented an 8.8% increase from $89.4 million in the prior-year period. At quarter's end, the company operated 1,378 U.S. locations, a net reduction of four stores during the period.
