Chewy stock soared 25% in extended trading: explore why


Chewy stock soared 25% in extended trading: explore why

Ad disclosure

Invezz is an independent platform with the goal of helping users achieve financial freedom. In order to fund our work, we partner with advertisers who compensate us for users that Invezz refers to their services. While our reviews and assessments of each product on the site are independent and unbiased, brands may pay to appear higher up our table rankings or place ads in specific areas of the site. The order in which products and services appear on Invezz does not represent an endorsement from us, and please be aware that there may be other platforms available to you than the products and services that appear on our website. Read more about how we make money >


Wajeeh Khan

Jun 1, 2022

Chewy Inc swings to a surprise profit in its fiscal first quarter.

The retailer forecasts more than $10 billion in revenue this year.

Chewy stock shot up 25% in extended trading on Wednesday.

Chewy Inc stock (NYSE: CHWY) soared more than 25% in extended trading on Wednesday after the pet products retailer reported a surprise profit for its fiscal Q1 and offered solid full-year guidance.

Chewy Q1 earnings snapshot

Net income printed at $18.5 million versus the year-ago figure of $38.7 million.Per-share earnings of 4 cents were significantly lower than last year’s 9 cents.Revenue jumped 14% YoY to $2.43 billion, as per the earnings press release.FactSet consensus was for 11 cents of per-share loss on $2.41 billion in revenue.Gross margin was down 10 bps to 27.5% in the recent financial quarter.

The stock is still down nearly 50% for the year. In the earnings press release, CEO Sumit Singh said:

Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

Our Q1 results are a testament to the resiliency of the pet category and clearly demonstrate our ability to execute against our strategic priorities. Moving forward, Chewy’s value proposition is as compelling as ever and we continue to innovate robustly, attract customers with high lifetime values, drive engagement, and capture greater share of wallet.

Chewy guidance for the future

Chewy now forecasts $10.2 billion to $10.4 billion in revenue this year, including up to $2.46 billion it expects in the fiscal second quarter.

In comparison, analysts had called for $2.44 billion in revenue for Q2 and $10.26 billion for the full financial year. Chewy said in the letter to shareholders:

While consumer demand remains resilient and pricing and cost are more align than they were in H2 of 2021, ongoing volatility in the macro environment continues to make accurate forecasting difficult. Inflation and supply constraints are expected to persist and the consumer’s post pandemic behaviour continues to evolve.

Invest in crypto, stocks, ETFs & more in minutes with our preferred broker,


75.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Visit site


North America


Stocks & Shares



Generated by Feedzy