For fiscal 2020, Chewy lifted its previously announced sales guidance. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. The company has topped consensus revenue estimates four times over the last four quarters. September 11, 2020 10:25am 231 Comments. This includes personalizing content and advertising. Chewy, which belongs to the Zacks Consumer Products - Staples industry, posted revenues of $1.70 billion for the quarter ended July 2020, surpassing the Zacks Consensus Estimate by 3.71%. NASDAQ data is at least 15 minutes delayed. 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. That’s a 60.4% narrower net loss than the $82.88 million reported during the same time last year. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Online pet products retailer Chewy posted a 47% year-over-year gain in revenue in the second quarter of 2020 — and will use an expanding fulfillment network and prescription offerings to achieve further growth as the holidays approach, according to company executives. If you do not, click Cancel. Chewy doesn’t include guidance in its current earnings report. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms and Conditions of Service. 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. CHWY stock was up about 2% in the extended trading hours. “Chewy’s advantageous positioning in the pet industry’s race towards e-commerce, our culture of innovation, and our singular focus on customer experience resulted in another quarter of outperformance. The current consensus EPS estimate is -$0.14 on $1.64 billion in revenues for the coming quarter and -$0.45 on $6.65 billion in revenues for the current fiscal year. The top-line, The Charles Schwab Corporation (NYSE: SCHW) reported third quarter 2020 earnings results today. 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. September 10, 2020. On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. 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. These returns cover a period from January 1, 1988 through August 31, 2020. Chewy had net sales of $1.7 billion in the second quarter ended Aug. 2. Share: Chewy (NYSE: CHWY) reported Q2 sales of $1.70 billion. The company’s loss narrowed to 8 cents per share in Q2 from $0.21 in the prior-year quarter. Pet products supplier Chewy (NYSE: CHWY) surpassed bottom and topline estimates for the second quarter of 2020. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities. Revenue for the quarter comes in 47% higher than the $1.15 billion reported in the second quarter of 2019. Net income, Intuitive Surgical Inc. (NASDAQ: ISRG) reported lower earnings and revenues for the third quarter of 2020, hurt by the coronavirus-related disruption. Delayed quotes by Sungard. However, the results topped the Street view. Chewy’s earnings report also has net loss coming in at $32.82 million. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. All rights reserved. This compares to year-ago revenues of $1.15 billion. Shares of Chewy (NYSE:CHWY) decreased 1.41% in after-market trading after the company reported Q2 results.. Quarterly Results. 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 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. Chewy shares have added about 112.1% since the beginning of the year versus the S&P 500's gain of 5.2%. If you experience any issues with … Let’s take a deeper dive into the most recent Chewy earnings report below. Sumit Singh, CEO of Chewy, said this in the earnings report. You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. 2020 InvestorPlace Media, LLC. Real time prices by BATS. Over the last four quarters, the company has surpassed consensus EPS estimates two times. In terms of the Zacks Industry Rank, Consumer Products - Staples is currently in the top 47% of the 250 plus Zacks industries. Zacks Ranks stocks can, and often do, change throughout the month. For the third quarter of fiscal 2020, Chewy expects sales to be between $1.70 billion and $1.72 billion, representing year-over-year growth of 38% to 40%. Experts have chosen 7 stocks out of 220 Zacks Rank #1 Strong Buys that have the highest potential to increase in price quickly amid the global health crisis. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. Many companies are withholding outlooks at this time due to the novel coronavirus making markets unpredictable. 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. the complete list of today's Zacks #1 Rank (Strong Buy) stocks here, 3 Secrets to Quick Profits this Earnings Season, Early Q3 Results Show Earnings Recovery in Place, What to Expect When Energy Companies Report Q3 Earnings, Top Research Reports for Novartis, Zoom Video & FIS, Small-Cap ETFs Outperforming Bigger Peers: Here's Why. See its 7 best stocks FREE. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. September 10, 2020 September 10, 2020. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Its revenue of $1.7 billion also comes in above analysts’ estimates of $1.69 billion. Wall Street expects a year-over-year decline in earnings on higher revenues when Chewy (CHWY) reports results for the quarter ended July 2020. Net revenues fell 10% year-over-year to $2.4 billion. For 32 years, our Strong Buy list has averaged returns more than twice the market. 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. These figures are adjusted for non-recurring items. Total revenue of $3.8 billion dipped less than 1% versus last year. We use cookies to understand how you use our site and to improve your experience. Earnings fell to a loss of $32.27 million, resulting in a … That’s despite it reporting diluted losses per share of 8 cents, which is better than Wall Street’s estimate of 16 cents. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. Visit performance for information about the performance numbers displayed above. Article printed from InvestorPlace Media, https://investorplace.com/2020/09/chewy-earnings-tick-chwy-stock-lower/. The Man Who Recommended 23 1,000% Winners Is Revealing His #1 Stock for 2020. Ahead of this earnings release, the estimate revisions trend for Chewy was favorable. Privacy Policy | No cost, no obligation to buy anything ever. The monthly returns are then compounded to arrive at the annual return. You’ll get the name & ticker of Matt McCall’s top pick when you tune in to his FREE event. The upcoming earnings date is derived from an algorithm based on a company's historical reporting dates. CHWY stock was down 1.4% after-hours Thursday and ended normal trading hours down 2.9%. While Chewy has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? Visit www.zacksdata.com to get our data and content for your mobile app or website. Operating loss of $32.3 million is a 61.2% improvement year-over-year from $83.1 million. All rights reserved. This quarterly report represents an earnings surprise of 46.67%. Infographic: Chewy (CHWY) Q2 2020 earnings in a nutshell. 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. Pet products supplier Chewy surpassed bottom and topline estimates for the second quarter of 2020. If you wish to go to ZacksTrade, click OK. Nasdaq Do the numbers hold clues to what lies ahead for the stock? Copyright 2020 Zacks Investment Research | 10 S Riverside Plaza Suite #1600 | Chicago, IL 60606. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Copyright © So, the shares are expected to outperform the market in the near future. Earnings per … Stay tuned here for Chewy Q2 2020 earnings call transcript, The Bank of New York Mellon Corporation (NYSE: BK) reported third quarter 2020 earnings results today. At Chewy, Inc., we promise to treat your data with respect and will not share your information with any third party. Chewy (CHWY) delivered earnings and revenue surprises of 46.67% and 3.71%, respectively, for the quarter ended July 2020. 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 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. Looking forward to read what management and analysts discuss on quarterly results? Chewy (CHWY - Free Report) came out with a quarterly loss of $0.08 per share versus the Zacks Consensus Estimate of a loss of $0.15. quotes delayed at least 15 minutes, all others at least 20 minutes. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. The company’s loss narrowed to 8 cents per share in Q2 from $0.21 in the prior-year quarter.
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