Shares of Chewy (NYSE:CHWY) fell in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2022. Earnings per share came in at $0.16, which beat analysts’ consensus estimate of -$0.11 per share. Sales increased by 13.4% year-over-year, with revenue hitting $2.71 billion. This beat analysts’ expectations of $2.65 billion.
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Chewy managed to boost its gross margin by 270 basis points, which represented a 28.1% gain in year-over-year comparisons. Its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) came in at $92 million, which was up $120.1 million from the same time the previous year. Chewy’s adjusted EBITDA margin, meanwhile, came in 460 basis points higher than the same time last year, representing a 3.4% gain.
Overall, Wall Street has a consensus price target of $45.33 on Chewy stock, implying 20.05% upside potential, as indicated by the graphic above.