PetIQ reports Q2 adjusted EPS 46c, consensus 26c

Reports Q2 revenue $314.5M, consensus $273.76M. Cord Christensen, PetIQ’s CEO commented, “We are pleased to continue the year with second-quarter sales and adjusted EBITDA significantly exceeding our guidance. The strategic investments to drive awareness and consumption across both our Products and Services segments along with our operational excellence enabled us to deliver better-than-projected results. We outperformed the broader categories we compete in and gained share across PetIQ’s strategic, manufactured brands. We had record cash generation in the quarter and substantially improved the company’s net leverage year-over-year. Based on these year-to-date results and our expectations for the second half of 2023, we are raising our annual outlook.”