PetSmart Earnings: Here’s Why Investors Like These Results
PetSmart, Inc. (NASDAQ:PETM) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 3.9%.
PetSmart, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 15.29% to $0.98 in the quarter versus EPS of $0.85 in the year-earlier quarter.
Revenue: Rose 4.95% to $1.71 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: PetSmart, Inc. reported adjusted EPS income of $0.98 per share. By that measure, the company beat the mean analyst estimate of $0.96. It missed the average revenue estimate of $1.72 billion.
Quoting Management: “We are pleased to report another quarter of solid earnings growth,” said Bob Moran, Chairman and Chief Executive Officer. “Our focus on providing solutions for the lifetime needs of pets has kept our pet parent customers highly engaged with our brand, resulting in positive comparable store sales growth and transaction growth.”
Key Stats (on next page)…