On Wednesday, Chewy, Inc. (NYSE:CHWY) reported first-quarter results that topped Wall Street expectations on both earnings and revenue, but the online pet retailer lowered its fiscal 2026 sales outlook, citing a more cautious consumer spending environment.
Earnings And Margins Top Expectations
Adjusted earnings came in at 43 cents per share, ahead of the 39-cent consensus estimate. Net sales increased 7.7% year over year to $3.357 billion, exceeding analyst expectations of $3.352 billion.
GAAP net income rose to $94.8 million from $62.4 million a year earlier, while GAAP basic and diluted earnings per share increased to 23 cents from 15 cents.
Adjusted net income climbed to $179.9 million from $148.9 million. Adjusted EBITDA increased 31.3% year over year to $253.1 million, and adjusted EBITDA margin expanded 130 basis points to 7.5%.
