Categories AlphaGraphs, Consumer, Earnings

Earnings: Chewy (CHWY) swings to profit in Q4 on higher revenues

Chewy Inc. (NYSE: CHWY) has reported higher sales for the fourth quarter of 2022. Reflecting the strong top-line growth, the pet food company turned to profit from a loss last year.

Chewy Q4 2022 earnings infographic

The company reported a net income of $6.1 million or $0.01 per share for the January quarter, marking an improvement from the prior-year period when it incurred a loss of $63.6 million or $0.15 per share.

The bottom line benefitted from a 13% increase in net sales to $2.71 billion. The management expects first-quarter 2023 sales to be in the range of $2.72 billion to $2.74 billion. The forecast for full-year sales is $11.1-11.3 billion.

“Our fourth quarter and full-year fiscal 2022 results cap an incredible year. Against the backdrop of a rapidly changing operating and economic environment, Chewy produced record-high revenue, profitability, and free cash flow,” said Sumit Singh, chief executive officer of Chewy.

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

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