CHWY Surges on Big Earnings Beat
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CHWY Surges on Big Earnings Beat

Shares of Chewy (NYSE:CHWY) posted a double-digit gain in after-hours trading after the company reported earnings for its first quarter of Fiscal Year 2023. Earnings per share came in at $0.20, which beat analysts’ consensus estimate of -$0.04 per share. Revenue hit $2.78 billion, beating analysts’ expectations of $2.73 billion.

Chewy posted a net income of $22.2 million, which included $53.8 million in share-based compensation and taxes therein. Its adjusted earnings before interest, taxes, depreciation, and amortization, meanwhile, came in at $110.2 million, which represented a jump of $49.7 million against the same time last year, a near-doubling.

Overall, Wall Street has a consensus price target of $45.44 on Chewy, implying 54.09% upside potential, as indicated by the graphic above.



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