Billion

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 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
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<p class="has-drop-cap">In the <a href="https://ir.petco.com/news-releases/news-release-details/petco-health-wellness-company-inc-reports-fourth-quarter-and-0" target="_blank" aria-label="fourth quarter of 2023 (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">fourth quarter of 2023</a>, Petco Health and Wellness Company Inc. (NASDAQ: WOOF) demonstrated resilience and adaptability in a dynamic market. The company reported a net revenue of $1.7 billion, marking a 6.1 percent increase year over year, which included the benefits of an additional 14th week.</p> 
<p>This growth was driven by a significant 8.8 percent increase in the consumables business and a remarkable 17.4 percent uptick in services and other business sectors. However, the company faced challenges, evident from a 0.9 percent decline in comparable sales year over year and a substantial GAAP net loss of $22.6 million, or $(0.08) per share.</p> 
<p>This contrasted starkly with the prior year’s GAAP net income of $32.7 million, or $0.12 per share. Despite these hurdles, Petco’s adjusted net income was $6.1 million, or $0.02 per share.</p> 
<h3 id="petco-outperforms-revenue-expectations-in-q4-misses-on-eps">Petco Outperforms Revenue Expectations in Q4, Misses on EPS</h3> 
<p>When comparing the current performance against expectations, it’s evident that Petco’s fourth-quarter achievements have surpassed projected financial thresholds. Analysts had anticipated an earnings per share (EPS) of $0.035 and revenue of $1.63 billion for the quarter. <br><br>Petco’s actual revenue of $1.7 billion exceeded these expectations and highlighted the company’s ability to drive growth through its consumables and services sectors. The <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="dofollow" class="deco-link">adjusted EPS</a> of $0.02 fell short of expectations partly due to economic challenges and internal adjustments.</p> 
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<h3 id="guidance">Guidance</h3> 
<p>Petco has provided a cautious yet strategic outlook for the fiscal first quarter of 2024, reflecting the company’s adaptability in uncertain times. The company expects net revenue to be around $1.5 billion, with adjusted EBITDA estimated at approximately $70 million and an adjusted EPS of about $(0.06). </p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/petco-woof-reports-1-7-billion-in-q4-revenue-amidst-market-challenges/">Petco (WOOF) Reports $1.7 Billion in Q4 Revenue Amidst Market Challenges</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Petco (WOOF) Reports $1.7 Billion in Q4 Revenue Amidst Market Challenges

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