5 Earnings Reports Investors Must Read

4. Chewy, Inc. (NYSE: CHWY)

Number of Hedge Fund Holders: 43

Shares of Chewy, Inc. (NYSE: CHWY) have declined for the third consecutive trading session following weak Q2 results and outlook. The pet food supplier reported a loss of 4 cents per share for the three months ended August 1, narrower than a loss of 8 cents per share in the year-ago quarter. Still, it was wider than a loss of 2 cents per share estimated by analysts.

Revenue for the quarter jumped 27 percent on a year-over-year basis to $2.16 billion but missed the consensus estimate of $2.20 billion. Monthly active customers in the quarter rose 21 percent to 20.1 million.

CEO Sumit Singh seemed satisfied with the results. Singh said in a statement:

“We have now crossed the halfway point of 2021, and our results once again demonstrate the strength of our business model and the incredible bond between pets and pet parents. Our business remains healthy, with second quarter net sales up 27 percent year over year, driven by a 21 percent increase in active customers and a 13 percent increase in net sales per active customer. Customer engagement is growing, and we are confident in our ability to deliver strong results while navigating uncertain market conditions due to the ever-evolving COVID-19 pandemic.”

Looking forward, Chewy, Inc. (NYSE: CHWY) expects revenue in the range of $2.20 billion to $2.22 billion for the third quarter, marginally below the consensus forecast of $2.23 billion.