The earnings call reflects a strong performance for Chewy in fiscal year 2024, with significant growth in key areas such as revenue, customer base, and profitability. The company has demonstrated its ability to innovate and expand its offerings, particularly in the Autoship program and Vet Care Clinics. However, there are some concerns about the minimal impact of pricing on growth and the dependency on external factors for hard goods growth.

Company Guidance

In the Chewy Fourth Quarter 2024 Earnings Call, the company reported strong financial performance, exceeding the high end of their guidance ranges. Fourth quarter net sales grew approximately 15% year-over-year to $3.25 billion, contributing to full year net sales of $11.86 billion, marking a 6% increase from the previous year. Autoship customer sales saw significant growth, increasing by 21% in Q4 and 10.6% for the full year, with Autoship representing 80.6% of Q4 net sales. Chewy's adjusted EBITDA margin for fiscal year 2024 reached 4.8%, reflecting a year-over-year expansion of around 150 basis points, and the company generated a record $452.5 million in free cash flow. The call also highlighted the success of Chewy's sponsored ads business, which scaled to approximately 1% of net sales, and the opening of eight Chewy Vet Care Clinics, which exceeded expectations. For 2025, Chewy anticipates continued growth with net sales projected between $12.3 billion and $12.45 billion, reflecting a 6% to 7% year-over-year increase, along with further adjusted EBITDA margin expansion to between 5.4% and 5.7%.

Strong Revenue Growth

Fourth quarter net sales increased approximately 15% year-over-year to $3.25 billion, resulting in full year 2024 net sales of $11.86 billion, representing 6% year-over-year growth.

Autoship Program Success

Autoship program represented 80.6% of Q4 net sales, with sales increasing by 21% in the fourth quarter and nearly 11% for the full year 2024.

Active Customer Growth

Chewy ended fiscal year 2024 with 20.5 million active customers, marking year-over-year growth for the first time in eight quarters.

Adjusted EBITDA Margin Improvement

Adjusted EBITDA margin for fiscal year 2024 reached 4.8%, reflecting year-over-year expansion of approximately 150 basis points.

Record Free Cash Flow

Chewy generated a record $452.5 million of free cash flow in fiscal year 2024, converting approximately 80% of adjusted EBITDA to free cash flow.

Chewy (DE:3HH) Earnings, Revenues Date & History

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DE:3HH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jun 11, 2025	2025 (Q1)	0.15 / -	0.134	―	―	―
Mar 26, 2025	2024 (Q4)	0.02 / 0.04	0.062	-28.57% (-0.02)
Dec 04, 2024	2024 (Q3)	0.05 / <0.01	-0.071	112.50% (+0.08)
Aug 28, 2024	2024 (Q2)	0.02 / 0.61	0.036	1600.00% (+0.57)
May 29, 2024	2024 (Q1)	0.03 / 0.13	0.045	200.00% (+0.09)
Mar 20, 2024	2023 (Q4)	-0.03 / 0.06	0.009	600.00% (+0.05)	―
Dec 06, 2023	2023 (Q3)	-0.05 / -0.07	0.009	-900.00% (-0.08)	―
Aug 30, 2023	2023 (Q2)	-0.04 / 0.04	0.045	-20.00% (>-0.01)	―
May 31, 2023	2023 (Q1)	-0.04 / 0.04	0.036	25.00% (<+0.01)	―
Mar 22, 2023	2022 (Q4)	-0.10 / <0.01	-0.134	106.67% (+0.14)	―

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

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DE:3HH Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Mar 26, 2025	€30.64	€30.05	-1.91%
Dec 04, 2024	€31.25	€32.56	+4.19%
Aug 28, 2024	€22.65	€25.39	+12.12%
May 29, 2024	€15.12	€19.92	+31.78%

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.

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