PetIQ (PETQ) Tops Q2 Earnings Estimates

Core Viewpoint - PetIQ (PETQ) reported quarterly earnings of $0.70 per share, exceeding the Zacks Consensus Estimate of $0.49 per share, and showing an increase from $0.46 per share a year ago, representing an earnings surprise of 42.86% [1] Financial Performance - The company posted revenues of $291.2 million for the quarter ended June 2024, which was 12.02% below the Zacks Consensus Estimate and a decrease from $314.55 million year-over-year [2] - Over the last four quarters, PetIQ has surpassed consensus EPS estimates four times and topped consensus revenue estimates three times [2] Stock Performance - PetIQ shares have increased approximately 4.2% since the beginning of the year, while the S&P 500 has gained 9.9% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.37 on revenues of $288.17 million, and for the current fiscal year, it is $1.42 on revenues of $1.16 billion [7] - The estimate revisions trend for PetIQ is mixed, and future changes in estimates will be closely monitored following the recent earnings report [6][7] Industry Context - The Medical - Products industry, to which PetIQ belongs, is currently ranked in the top 42% of over 250 Zacks industries, suggesting that companies in the top half tend to outperform those in the bottom half by more than 2 to 1 [8]