The earnings call reflected a strong performance in revenue growth, customer base expansion, and profitability metrics, balanced by upcoming leadership changes and expected seasonal profitability challenges.

Company Guidance

During Chewy, Inc.'s first quarter fiscal 2025 earnings call, the company reported strong financial performance, achieving net sales of $3.12 billion, an 8.3% increase over the prior year, surpassing the high end of their guidance range. The company also reported a gross margin of 29.6% and an adjusted EBITDA of $192.7 million, representing a 6.2% margin and a year-over-year increase of 50 basis points. Chewy ended the quarter with 20.8 million active customers, reflecting a 3.8% year-over-year growth. Notably, their auto-ship program contributed $2.56 billion in sales, accounting for 82% of total net sales and marking a 14.8% increase. Additionally, the company highlighted a 12.3% growth in hard goods. For fiscal year 2025, Chewy maintained its net sales outlook of $12.3 billion to $12.45 billion, with anticipated adjusted EBITDA margin expansion of 75 basis points. The call also announced Chewy's plans to continue expanding its Chewy Vet Care practices and progress in its sponsored ads business.

Strong Net Sales Growth

Q1 net sales exceeded the high end of guidance, increasing by over 8% to $3.12 billion.

Auto-ship Subscription Success

First quarter auto-ship customer sales of $2.56 billion represented approximately 82% of Q1 net sales, reaching a record high for the company, with a growth of nearly 15%.

Active Customer Growth

The company ended the quarter with 20.8 million active customers, reflecting 3.8% year-over-year growth.

Adjusted EBITDA Improvement

Generated $192.7 million of adjusted EBITDA in the quarter, representing a 6.2% adjusted EBITDA margin and a year-over-year increase of approximately 50 basis points.

Chewy Plus Program Launch

Successfully transitioned the Chewy Plus membership program out of beta, aiming to drive stronger customer loyalty.

Share Repurchase Program

Deployed $23.2 million towards share repurchases in the quarter.

Chewy (CHWY) Earnings, Revenues Date & History

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CHWY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 10, 2025	2025 (Q2)	0.14 / -	0.68	―	―	―
Jun 11, 2025	2025 (Q1)	0.17 / 0.15	0.15	0.00% (0.00)
Mar 26, 2025	2024 (Q4)	0.03 / 0.05	0.07	-28.57% (-0.02)
Dec 04, 2024	2024 (Q3)	0.06 / 0.01	-0.08	112.50% (+0.09)
Aug 28, 2024	2024 (Q2)	0.02 / 0.68	0.04	1600.00% (+0.64)
May 29, 2024	2024 (Q1)	0.04 / 0.15	0.05	200.00% (+0.10)
Mar 20, 2024	2023 (Q4)	-0.04 / 0.07	0.01	600.00% (+0.06)	―
Dec 06, 2023	2023 (Q3)	-0.06 / -0.08	0.01	-900.00% (-0.09)	―
Aug 30, 2023	2023 (Q2)	-0.05 / 0.04	0.05	-20.00% (-0.01)	―
May 31, 2023	2023 (Q1)	-0.04 / 0.05	0.04	25.00% (+0.01)	―

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 11, 2025	$45.79	$40.76	-10.98%
Mar 26, 2025	$33.61	$33.25	-1.07%
Dec 04, 2024	$33.62	$33.47	-0.45%
Aug 28, 2024	$25.86	$28.72	+11.06%

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.