share_log

Chewy | 8-K: Chewy Announces First Quarter 2024 Financial Results

SEC announcement ·  May 29 19:38
Summary by Futu AI
On May 29, 2024, Chewy, Inc. reported its financial results for the first quarter of fiscal year 2024, which ended on April 28, 2024. The company announced a net sales increase of 3.1% year over year to $2.88 billion, a gross margin increase to 29.7%, and a net income of $66.9 million. This includes share-based compensation expense and related taxes amounting to $69.5 million. The net margin rose by 150 basis points year over year to 2.3%, with basic and diluted earnings per share up by $0.10 to $0.15. Adjusted EBITDA grew by $52.1 million to $162.9 million, and adjusted net income increased by $49.1 million to $137.1 million. Concurrently, Chewy's Board of Directors authorized a share repurchase program of up to $500 million of its Class A and/or Class B common stock, with no set expiration date for the program. The company's CEO, Sumit Singh, expressed confidence in the company's value proposition and strategic roadmap execution. The financial results were discussed in a conference call and webcast held on May 29, 2024.
On May 29, 2024, Chewy, Inc. reported its financial results for the first quarter of fiscal year 2024, which ended on April 28, 2024. The company announced a net sales increase of 3.1% year over year to $2.88 billion, a gross margin increase to 29.7%, and a net income of $66.9 million. This includes share-based compensation expense and related taxes amounting to $69.5 million. The net margin rose by 150 basis points year over year to 2.3%, with basic and diluted earnings per share up by $0.10 to $0.15. Adjusted EBITDA grew by $52.1 million to $162.9 million, and adjusted net income increased by $49.1 million to $137.1 million. Concurrently, Chewy's Board of Directors authorized a share repurchase program of up to $500 million of its Class A and/or Class B common stock, with no set expiration date for the program. The company's CEO, Sumit Singh, expressed confidence in the company's value proposition and strategic roadmap execution. The financial results were discussed in a conference call and webcast held on May 29, 2024.
Helpful
Not Helpful

This announcement is a separate document:

Doc 1

Doc 2

The information provided by Futu AI is automatically generated by third-party artificial intelligence (AI) software based on news content. It is only available to users located outside of China mainland.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.