TSX:PET - Post Discussion
Post by
retiredcf on Aug 11, 2023 4:09pm
Stockchase Insights
HOLD
Pet Valu Holdings(PET-T)
09/08/2023
Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research
Pet Value reported better-than-expected adjusted earnings per share but lower-than-expected same-store sales growth. Adjusted EPS of $0.36 declined 7% year-over-year missing estimates of $0.34. Same-store sales growth came in at 6%, driven by a 4.8% increase in transaction count. Revenue increased 13% year-over-year to $256.4 million, missing estimates slightly of $257.2 million. Adjusted EBITDA rose 4%, while the street called for a 1% decline. Gross margin improved by 1.5% year-over-year to 36.1% vs consensus of 34.6%. Management left the 2023 guidance unchanged at revenue of $1.05 to $1.08 million, same-store sales growth of 7% to 10%, and new store operations of 40-50 stores. The quarter overall was a miss and the guidance came in slightly lower than consensus.
Specialty Stores
$26.705
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