Chewy Inc (CHWY)
NYSE:CHWY
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Earnings Data
Report Date
Sep 02, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.19Last Year’s EPS
0.14Same Quarter Last Year
Strong Buy
Based on 21 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a largely positive operational and financial picture: solid top-line growth, meaningful margin expansion (7.5% adjusted EBITDA margin in Q1), strong Autoship penetration, accelerating free cash flow (FCF +45% YoY), and strategic investments (SmartPak, Modern Animal, AI, Vet Care) that expand TAM and strengthen long-term economics. Offsetting these positives are near-term macro-driven pressures: softer consumer spending that is muting premiumization and attach rates, a downward revision to fiscal 2026 net sales guidance, and some margin cadence headwinds driven by prior-year comps, fuel surcharges and a modest FY2026 margin impact from Modern Animal. Overall, the company is emphasizing discipline, ongoing strategic investments, and confidence in its structural margin opportunity while prudently moderating short-term revenue assumptions.Company Guidance
Revenue Growth in Q1
Q1 net sales of approximately $3.36 billion, up 7.7% year-over-year, reflecting balanced contribution from active customer growth and NSPAC expansion.
Active Customer and NSPAC Expansion
Ended Q1 with 21.5 million active customers (+3.6% YoY). NSPAC was $597 in Q1, up ~4.6% year-over-year on a normalized basis (adjusting for an extra week in the prior year).
Autoship Strength and Recurring Revenue Mix
Autoship customer sales reached ~$2.83 billion in Q1, increasing >10% YoY and representing 84.4% of total net sales, reinforcing recurring revenue durability and predictability.
Margin Expansion and Adjusted EBITDA
Q1 adjusted EBITDA was approximately $253 million, with an adjusted EBITDA margin of 7.5%, reflecting ~130 basis points of year-over-year expansion and >25% adjusted EBITDA flow-through.
Gross Margin and SG&A Leverage
Reported gross margin of 30.1% in Q1 (+50 basis points YoY). Non-GAAP SG&A was ~$593 million (17.7% of net sales) and delivered ~90 basis points of year-over-year SG&A leverage.
Profitability and EPS
Q1 adjusted net income of approximately $180 million and adjusted diluted EPS of $0.43, demonstrating profitable growth at scale.
Free Cash Flow and Cash Position
Q1 free cash flow of approximately $71 million, an increase of >45% year-over-year. Ended quarter with ~$520 million in cash and marketable securities and over $1 billion of total available liquidity.
Strategic M&A and Clinic Expansion
Closed SmartPak acquisition (expected ~ $80 million net sales contribution in FY2026) and subsequently closed Modern Animal. Chewy expects to operate ~60 clinics exiting FY2026 with embedded steady-state revenue contribution approaching ~$290 million.
Capital Allocation and Leverage Actions
Deployed ~ $200 million in share repurchases during the quarter and launched a $600 million Term Loan B to enhance financial flexibility while targeting net leverage below 2x adjusted EBITDA over time.
AI and Productivity Roadmap
Embedding AI across customer service, pharmacy, fulfillment and marketing. Expect AI-driven efficiencies to deliver low tens of millions of dollars of benefit in FY2026 with a meaningful ramp (>$50 million) expected in FY2027.
CHWY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CHWY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jun 10, 2026 | $20.40 | $19.98 | -2.06% |
Mar 25, 2026 | $23.45 | $26.57 | +13.30% |
Dec 10, 2025 | $34.84 | $35.37 | +1.52% |
Sep 10, 2025 | $42.10 | $35.11 | -16.60% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Chewy Inc (CHWY) report earnings?
Chewy Inc (CHWY) is schdueled to report earning on Sep 02, 2026, After Close (Confirmed).
What is Chewy Inc (CHWY) earnings time?
Chewy Inc (CHWY) earnings time is at Sep 02, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CHWY EPS forecast?
CHWY EPS forecast for the fiscal quarter 2026 (Q2) is 0.19.
